Jindal Poly Films Limited has informed the Exchange regarding Outcome of Board Meeting held on April 10, 2026.
JINDALPOLY · price
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Jindal Poly Films Limited's Board has decided to withdraw its application seeking no-objection letters from BSE and NSE for a proposed Scheme of Arrangement. The scheme involved demerging the Non-Woven Fabrics business division into Global Nonwovens Limited. The Board cited procedural delays, geopolitical instability, and evolving market dynamics as reasons for withdrawal. The company stated there is no monetary impact and no court or NCLT proceedings were pending as the scheme had not been filed with the tribunal. The company will evaluate future course of action later.
The demerger of the Non-Woven Fabrics business will not proceed at this stage. Shareholders should note the company retains flexibility to revisit the scheme in future based on market conditions, with no immediate financial impact expected.