Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 regarding Outcome of First Meeting of Committee of Creditors held on 8th July 2025
Awaiting price reaction for this filing.
JCT Ltd, which is already under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, has concluded the first meeting of its Committee of Creditors (CoC) held on 8th July 2025. The CoC approved the appointment of Mr. Umesh Garg as the new Resolution Professional, replacing the Interim Resolution Professional. Two registered valuers — Adroit Appraisers and Research Pvt. Ltd. and Kanassure Valuation Services Pvt. Ltd. — were also appointed to value the company's land, buildings, plant & machinery, securities, and financial assets. Additionally, the CoC approved the continuation of the existing Company Secretary firm, M/s. Anuj Bansal and Associates.
For shareholders, this is a procedural step in an ongoing insolvency process — the stock remains under stress and highly speculative. No resolution plan has been approved yet; valuations being carried out now will determine the final outcome for equity holders, who typically face significant dilution or writedown in CIRP.