JBF Industries Limited has informed the Exchange about Corporate Insolvency Resolution Process

JBF Industries Limited has disclosed to the stock exchange that it is undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). This typically follows an admission of insolvency by the National Company Law Tribunal (NCLT), meaning the company's lenders or other creditors have successfully pushed for formal resolution proceedings. An Interim Resolution Professional (IRP) is likely to be appointed to manage the company's affairs and oversee the resolution plan. During CIRP, normal management control is suspended, and the company's operations are overseen by the IRP.