Intimation regarding receiving of Expression of Interest from 26 Prospective Resolution Applicants in response to the Form G published dated 09.08.2025.
Awaiting price reaction for this filing.
JCT Ltd, which is currently under Corporate Insolvency Resolution Process (CIRP), has received 26 eligible Expression of Interest (EOI) applications from Prospective Resolution Applicants (PRAs) looking to revive or acquire the company. The Deemed Resolution Professional invited EOIs via Form G on August 9, 2025, with submissions closing on August 25, 2025. A total of 27 EOIs were received, but one applicant (Rajpur Developers & Builders) was excluded for not meeting the minimum net worth threshold of Rs. 125 crore (or equivalent AUM/funds criteria). The eligible pool includes a mix of asset reconstruction companies (Resurgent India, Capri Global Holdings, Aikyam Stressed Assets Fund), corporates (International Tractors, Parasrampuria Synthetics, Standard Capital Markets), consortia, and individual investors. Any objections to the provisional list must be filed by September 8, 2025, after which the final list will be shared with the Committee of Creditors.
This is a meaningful step forward for shareholders as it shows strong investor interest in JCT Ltd despite the insolvency situation, with 26 eligible bidders potentially competing — which could improve the final resolution plan terms. However, equity holders typically receive little to nothing in IBC resolutions unless the resolution plan offers a substantial premium over liquidation value, so outcomes remain uncertain until a resolution applicant is finalized.