Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III PartA-Para A, the List of Creditors of JBF Industries Ltd. is ....
Awaiting price reaction for this filing.
JBF Industries, currently under Corporate Insolvency Resolution Process (CIRP) since 25 January 2024, has filed an updated list of creditors with the stock exchanges. A total of 25 claims worth around Rs 828.67 crore have been received, of which about Rs 547.30 crore has been provisionally admitted. CFM Asset Reconstruction is the largest secured financial creditor with 51.19% voting share in the Committee of Creditors (CoC), while IDBI Bank holds 48.08% voting share with its Rs 2,349 crore claim admitted after NCLT approval. Several unsecured financial creditor claims (Export-Import Bank, Union Bank) were rejected because corporate guarantees had expired. Government dues of about Rs 211 crore were claimed, of which only Rs 25.84 crore was admitted. The NCLAT has stayed voting on resolution plans pending appeals.
The ongoing CIRP and the NCLAT stay on voting on resolution plans means shareholders continue to face uncertainty with no clear timeline for resolution. The dominance of two major creditors (CFM ARC and IDBI Bank, together holding nearly all voting power) will critically shape any revival plan or liquidation outcome.