Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Rejection of Resolution Plan
Awaiting price reaction for this filing.
JBF Industries Limited, which is currently under the Corporate Insolvency Resolution Process (CIRP), has informed stock exchanges that the NCLT Ahmedabad Bench orally pronounced an order on March 18, 2026 rejecting the sole Resolution Plan submitted by the Resolution Professional under Section 31 of the Insolvency and Bankruptcy Code, 2016. The matter has been referred back to the Committee of Creditors (CoC) for further action. The rejection delays the company's exit from insolvency proceedings and creates uncertainty around recovery for creditors and shareholders.
This is a significant negative development for shareholders, as the rejection of the only resolution plan prolongs the insolvency process and raises uncertainty about the company's future and potential recovery of any value. The stock is likely to face pressure as the timeline for resolution gets extended.