Tijaria Polypipes Limited has disclosed a new development regarding NCLT proceedings, with a fresh case filed by Bank of India. The company informed stock exchanges on March 14, 2026, about the new case number IA(I.B.C.)/258(JPR)2025, which is scheduled for hearing on April 10, 2026, at NCLT Jaipur.

New NCLT Case Details

The latest case titled "Bank of India Vs. M/s Tijaria Polypipes Ltd." has been registered at NCLT Jaipur with a new case number IA(I.B.C.)/258(JPR)2025. This represents a separate proceeding from the previously disclosed case IA No. 491/JPR/2025.

Previous Settlement Efforts

The company had previously submitted a comprehensive One Time Settlement (OTS) proposal of ₹38.00 crore to Bank of India for full and final discharge of all liabilities. The settlement structure included ₹12.00 crore already deposited with the bank, with the remaining ₹26.00 crore proposed in installments.

Banking Relationship Context

Tijaria Polypipes has maintained a banking relationship with Bank of India since 2003 and has repaid a total of ₹101.54 crore to date. The outstanding amount includes ₹10.11 crore under the GECL 2.0 scheme with 100% Government Guarantee and approximately ₹9.52 crore comprising Funded Interest Term Loans (FITL).

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI listing regulations and signed by Praveen Jain Tijaria, Whole-time Director (DIN: 00115002). The company received official notification from NCLT's e-filing system confirming the case registration and hearing schedule.

Tijaria Polypipes Limited , a company facing significant financial challenges, has reported a widening net loss for the quarter ended September 30, 2025. The company's financial situation remains precarious as it grapples with ongoing legal issues and non-performing asset (NPA) status.

Financial Performance

The company's financial results for the quarter paint a grim picture:

Tijaria Polypipes reported no revenue from operations during the quarter, with its total income of ₹10.06 lacs coming entirely from other income sources. This lack of operational revenue highlights the company's current inability to generate income from its core business activities.

Bank of India NPA Case

The company's financial woes are compounded by its ongoing issues with Bank of India:

• Bank of India has declared Tijaria Polypipes' account as a Non-Performing Asset (NPA)
• Outstanding loan amount: ₹7,116.27 lacs
• Bank guarantee: ₹57 lacs
• Bank of India has filed a case against the company with the National Company Law Tribunal (NCLT), Jaipur Bench
• Next hearing scheduled for December 1, 2025

Forfeiture of Shares

As part of the ongoing financial proceedings:

• Bank of India has forfeited equity shares worth ₹540.27 lacs belonging to promoters and directors
• In previous financial years, the bank sold forfeited shares:
  • 2023-24: ₹465.27 lacs
  • 2022-23: ₹76.33 lacs
• Proceeds from these sales were credited towards outstanding loan amounts

Operational Challenges

Tijaria Polypipes faces several operational challenges:

• No production activities during the quarter
• Outstanding receivables and advances of ₹2,517 lacs from various entities

Auditor's Concerns

The company's auditors have issued a disclaimer of conclusion, citing multiple concerns:

• Lack of independent confirmation for major outstanding amounts
• Uncertainty over asset recoverability

These issues raise significant questions about the company's financial health and future prospects.

The situation at Tijaria Polypipes Limited remains critical, with the company facing a combination of financial losses, legal challenges, and operational difficulties. Stakeholders will be closely watching the upcoming NCLT hearing and any potential restructuring efforts that may emerge to address the company's mounting challenges.