JCT’s financial restructuring proposal has been approved by the Corporate Debt Restructuring Cell (CDR Cell). The company is now pursuing with the banks for implementation of the scheme.
As per the proposal, the company had asked for re-schdulement of term loans, reduction in interest rates, extension of additional working capital limits by banks, infusion of funds by the promoters in the form of fresh capital and subordinate debt in the company and settlement of NPV loss banks by way of upfront payment and allotment of equity shares.
JCT, one of the leading manufacturers of textiles and filament yarn, is the flagship company of Thapar Group. JCT was the first textile manufacturer in the country to introduce eco-friendly fabrics made of organic cotton and its textile division was the first in the industry to be accredited with an ISO 9002 certification.
| 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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