Legal18 Mar 2026, 10:11 pm
JBF Industries: Resolution Plan Rejected by NCLT, Matter Referred Back to COC
AI Summary
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, JBF Industries Ltd. has announced that the Resolution Professional had submitted one Resolution Plan before the Hon’ble National Company Law Tribunal (NCLT), Ahmedabad Bench. However, the NCLT has orally pronounced an order on March 18, 2026, rejecting the said Resolution Plan under Section 31 of the Insolvency and Bankruptcy Code, 2016, as amended, and referring the matter back to the COC.
Key Highlights
- JBF Industries Ltd. had one Resolution Plan rejected by the NCLT.
- The rejection was pronounced under Section 31 of the Insolvency and Bankruptcy Code, 2016, as amended.
- The matter has been referred back to the COC by the NCLT.
- The announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.