Jindal Poly Films Limited Withdraws Application for Proposed Scheme of Arrangement
Jindal Poly Films Limited announced that its Board of Directors approved the withdrawal of an application filed with BSE Limited and National Stock Exchange of India Limited concerning a proposed Scheme of Arrangement. The withdrawal pertains to the demerger of the Non-Woven Fabrics business division of the Demerged Company into Global Nonwovens Limited, the Resulting Company.The decision to withdraw the application, which was sought under Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, was taken by the Company's Board of Directors during a meeting held on April 10, 2026.
The withdrawal of the Application was deemed prudent in the interests of the Company, its shareholders, and stakeholders due to procedural delays, geopolitical instability, and evolving business and market dynamics. These factors contributed to significant time, cost, and regulatory delays associated with pursuing and implementing the Scheme.
The details of the withdrawal, as outlined in the relevant annexure, confirm that the action does not affect the financial position or results of the Company. Furthermore, the report noted that the Scheme had not been filed before the Hon'ble National Company Law Tribunal, and no court or tribunal proceedings are currently pending in connection with the arrangement.
The Board confirmed that no monetary impact is estimated to arise from this voluntary withdrawal, and no monetary penalty has been imposed on the Company.
The Company stated that it will evaluate the appropriate course of action regarding the Scheme in due course.
For reference, the following table summarizes the scope of the withdrawal:
| Particulars | Detail |
|---|---|
| Regulatory Authorities Concerned | BSE Limited and National Stock Exchange of India Limited |
| Action Taken | Withdrawal of the Application |
| Subject Matter | Proposed Scheme of Arrangement between Jindal Poly Films Limited (Demerged Company) and Global Nonwovens Limited (Resulting Company) for demerger of Non-Woven Fabrics business division. |
| Impact on Financial Position | No material adverse impact is expected; financial position and results remain unaffected. |
The Board meeting commenced at 02:00 P.M. (IST) and concluded at 04:00 P.M. (IST).
JINDALPOLY Stock Price Movement
Jindal Poly Films Limited shares today slipped by 5.00% to settle at ₹770. The decline occurred amid trading that saw a volume of 116,595 shares move through the market.Source:
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