Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( the Listing Regulations ) read with clause 16(e) of Para A - Part A of Schedule III of the Listing Regulations, please find attached herewith the list of creditors of JBF Industries Limited.
Awaiting price reaction for this filing.
JBF Industries is under the Corporate Insolvency Resolution Process (CIRP) which commenced on 25 January 2024, and the Resolution Professional (Mr. Mukesh Verma) has filed the latest list of creditors with the stock exchanges. A total of 25 creditors have filed claims of about Rs. 8,287 crore, of which roughly Rs. 5,473 crore has been admitted as valid. The two largest financial creditors in the Committee of Creditors (CoC) are CFM Asset Reconstruction (Rs. 2,501.5 crore, 51.19% voting share) and IDBI Bank (Rs. 2,349.4 crore admitted, 48.08% voting share). NCLAT has stayed voting on resolution plans following appeals by the RP and CFM ARC against NCLT's order allowing IDBI's claim. Several operational and government claims worth around Rs. 1,855 crore have not been admitted.
This is a procedural update in the ongoing insolvency process. The NCLAT stay on voting may delay the final resolution plan, which is negative for timely resolution. For equity shareholders, outcomes in such large CIRP cases have historically meant little to no recovery.