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JCT to sell noncore assets to repay convertible bonds holders: Report

05 Feb 2015 Evaluate

In a bid to repay holders of its foreign currency convertible bonds, JCT is reportedly planning to sell some of its noncore assets. The move comes after the Punjab and Haryana High Court last week dismissed a petition seeking winding up of JCT, filed by hedge fund QET that holds a majority of the Rs 115 crore of bonds outstanding. The company, which was caught in the global meltdown in 2008, had defaulted to the bondholders in 2011.

JCT, one of the leading manufacturers of textiles and filament yarn, is the flagship company of Thapar Group. With operations in two distinct businesses -- cotton, synthetic & blended textiles and nylon filament yarn -- JCT is a market driven company fuelled by good work ethic, values and a high standard of performance.

JCT Share Price

1.21 0.00 (0.00%)
30-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Welspun Living 125.45
Vardhman Textiles 557.75
Arvind 387.20
K.P.R. Mill 926.40
Page Industries 37935.70
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