Company is in receipt of notice of filing of application for initation of CIRP by financial creditor
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Awaiting price reaction for this filing.
Jainco Projects India Ltd has informed the stock exchanges that it has received a notice from a financial creditor's advocate regarding the filing of an application for initiating Corporate Insolvency Resolution Process (CIRP) against the company under the Insolvency and Bankruptcy Code (IBC). The application has been filed before the NCLT, Kolkata bench. The claimed default amount is Rs. 12,62,81,337.11 (approximately Rs. 12.63 crore) as on 16 July 2025. At this stage, only the application has been filed — the NCLT has not yet admitted it. The disclosure is made under SEBI's Regulation 30 read with Schedule III, Part A.
This is an early-stage insolvency signal: a creditor has approached NCLT to begin recovery proceedings, which could threaten the company's financial stability and shareholder value if admitted. However, until NCLT admits the application, normal operations continue. Shareholders should monitor further developments closely as admission of CIRP typically triggers a sharp negative reaction in the stock.