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| Exchange Received Time 04/10/2017 19:01:28 Exchange Disseminated Time 04/10/2017 19:01:34 Time Taken 00:00:06 | With reference to your email dated October 4, 2017, kindly note that the IFCI, the Financial Creditor has filed an insolvency petition against Jai Balaji Industries Limited (Company) at the Kolkata bench of the National Company Law Tribunal (NCLT), seeking the initiation of corporate insolvency process. The matter was heard for the first time by the division bench of the tribunal yesterday itself i.e. on October 3, 2017. The Hon'ble NCLT was pleased to pass an order to serve a notice of the same to the Company and adjourned the matter till October 11, 2017. The Company is in active discussion with IFCI to restructure / resolve the matter mutually.
However, in our view it is only on such admission that the information would be deemed to be important in perspective of Regulation 30 of Listing Regulations, 2015.
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