The Intimation under Reg 30 of SEBI (LODR) Regulations, 2015 regarding the First Meeting of the Committee of Creditors (CoC) of the Company which is scheduled to be held on Tuesday 08.07.2025 ....
Awaiting price reaction for this filing.
JCT Ltd has informed the stock exchanges about the first meeting of the Committee of Creditors (CoC) scheduled for Tuesday, 8 July 2025, under the provisions of the Insolvency and Bankruptcy Code (IBC). A CoC is constituted once the National Company Law Tribunal (NCLT) admits the company into the Corporate Insolvency Resolution Process (CIRP). The meeting will involve financial creditors discussing the resolution plan, appointment of the resolution professional's team, and related procedural matters. This intimation signals that the company's insolvency proceedings are actively underway.
This is a negative development for shareholders, as it confirms the company is undergoing formal insolvency proceedings under IBC. Equity holders typically face significant dilution or potential wipeout if a resolution plan is approved. Expect high stock price volatility and uncertainty around recovery value.