ED freezes Rs 99 cr assets of Jai Corp subsidiary, seizes cash from directors
JAICORPLTD · price
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On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 1.7 pts less than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Enforcement Directorate visited Jai Corp's premises and residences of Chairman Anand Jain, Vice Chairman Virendra Jain, and MD Gaurav Jain on Dec 19, 2025. The ED froze demat accounts and mutual fund folios of subsidiary UIVCL worth about Rs 99 crores and seized around Rs 1.74 crores cash from directors' homes under PMLA. The matter relates to a 2,434 cr fraud probe. Company says the case is sub-judice and financial impact cannot be assessed yet.
ED action against key directors and freezing of subsidiary assets creates uncertainty. Financial impact not yet known, stock may see volatility.