NewsNCLT Ahmedabad Bench Rejects JBF Industries Resolution Plan, Refers Matter Back to CreditorsNCLT Ahmedabad Bench Rejects JBF Industries Resolution Plan, Refers Matter Back to Creditors
JBF Industries Limited announced that the NCLT Ahmedabad Bench rejected its resolution plan on March 18, 2026, under Section 31 of the Insolvency and Bankruptcy Code, 2016. The tribunal referred the matter back to the Committee of Creditors after rejecting the single resolution plan submitted by the Resolution Professional. The company, currently under Corporate Insolvency Resolution Process, made this disclosure in compliance with SEBI listing regulations.
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JBF Industries Limited has disclosed that the National Company Law Tribunal (NCLT) Ahmedabad Bench rejected its resolution plan on March 18, 2026, marking a significant setback in the company's Corporate Insolvency Resolution Process (CIRP). The tribunal orally pronounced the order under Section 31 of the Insolvency and Bankruptcy Code, 2016, and referred the matter back to the Committee of Creditors (COC).
Resolution Plan Details
The company's Resolution Professional had submitted one resolution plan before the NCLT Ahmedabad Bench for consideration. The plan was part of the ongoing insolvency proceedings for JBF Industries Limited, which has been operating under the Corporate Insolvency Resolution Process.
| Parameter: | Details |
|---|---|
| Tribunal: | NCLT Ahmedabad Bench |
| Decision Date: | March 18, 2026 |
| Legal Provision: | Section 31 of IBC, 2016 |
| Resolution Plans Submitted: | 1 (one) |
| Next Step: | Referred back to COC |
Regulatory Compliance
The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Para A - Part A of Schedule III of the Listing Regulations. This regulatory framework mandates timely disclosure of material events that could impact investor decisions.
Company Status and Leadership
JBF Industries Limited continues to operate under the Corporate Insolvency Resolution Process, with Mr. Mukesh Verma serving as the Resolution Professional. His registration number is IBBI/IPA-001/IP-P01665/2019-2020/12522, and he digitally signed the disclosure document on March 18, 2026.
Corporate Information
The company maintains its registered office at Shop No.4, Ground Floor, Building No.A, Shubh Laxmi Complex, Near Prabhat School, Chanandevi, Amli, Silvassa, Dadra & Nagar Haveli – 396230. The rejection of the resolution plan represents a critical juncture in the company's insolvency proceedings, with the matter now returning to the Committee of Creditors for further consideration.
What alternative resolution plans might the Committee of Creditors consider following this rejection?
How will this setback affect JBF Industries' timeline for exiting the Corporate Insolvency Resolution Process?
Could this rejection lead to liquidation proceedings if no viable resolution plan emerges?
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