The Exchange has sought clarification from Jindal Poly Films Limited with respect to recent news item captioned NCLAT refuses to stay India's first corporate class action against Jindal Poly Films.. The response from the Company is attached.
JINDALPOLY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Jindal Poly Films informed the stock exchange that the National Company Law Appellate Tribunal (NCLAT) has dismissed its appeal (Company Appeal (AT) No. 47 of 2026) challenging an earlier NCLT order dated 5 February 2026 that admitted a class action petition against the company. This case, filed by Mr. Ankit Jain and others, is reported as India's first corporate class action suit. With the NCLAT refusing to stay the NCLT's order, the underlying class action proceedings will now continue. The company stated it is not in negotiations with the counterparty and is not aware of any undisclosed information that explains recent movement in the stock's price or volume. It also confirmed it will disclose further developments as required.
This is a legal setback for shareholders — the company failed to get the class action lawsuit stayed, meaning it must now defend what is being called India's first corporate class action. The outcome could have financial and reputational implications depending on the suit's merits, and may keep the stock under scrutiny until the matter is resolved.