Integrated Filing — IndAS



General information about company
Scrip Code 514034
NSE Symbol JBFIND
MSEI Symbol NOTLISTED
ISIN INE187A01017
Name of company JBF INDUSTRIES LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 28-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 20-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment In the opinion of the management, the Company is engaged only in the business of producing polyester based products. As such, there are no separate reportable segments.
Start date and time of board meeting 28-May-2025   16:30:00
End date and time of board meeting 28-May-2025   17:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? No
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public No
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2014-11-14
Indicate Company website link for updated RPT policy of the Company www.jbfindustries.co.in
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
abcd if yhr n



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 0 0
Other income 400000 800000
Total income 400000 800000
2 Expenses
(a) Cost of materials consumed 0 0
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0 0
(d) Employee benefit expense -2900000 8700000
(e) Finance costs 0 0
(f) Depreciation, depletion and amortisation expense 0 0
(f) Other Expenses
1 Other Expenses 1900000 18700000
Total other expenses 1900000 18700000
Total expenses -1000000 27400000
3 Total profit before exceptional items and tax 1400000 -26600000
4 Exceptional items 0 -26100000
5 Total profit before tax 1400000 -52700000
6 Tax expense
7 Current tax 0 0
8 Deferred tax 0 0
9 Total tax expenses 0 0
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 1400000 -52700000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period 1400000 -52700000
17 Other comprehensive income net of taxes 0 0
18 Total Comprehensive Income for the period 1400000 -52700000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 818700000 818700000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 0
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.02 -0.64
Diluted earnings (loss) per share from continuing operations 0.02 -0.64
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.02 -0.64
Diluted earnings (loss) per share from continuing and discontinued operations 0.02 -0.64
24 Debt equity ratio 0 0
25 Debt service coverage ratio 0 0
26 Interest service coverage ratio 0 0
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) 1 The above is an extract of the detailed format of quarterly ended financial results filed with the Stock Exchange on 28th May 2025 under Regulation 33 of the SEBI Listing Obligations and Other Disclosure Requirements Regulations 2015 The full format of the said quarterly ended financial results are available on the companys website ie www.jbfindia.com under investor information section and stock exchange websites ie www.bseindia.com and www.nseindia.com n n2 All the lenders except Tamilnad Mercantile Bank Ltd had assigned the debts along with all the rights and interests on the secured assets to CFM Asset Reconstruction Private Limited CFM who in turn sold it to Madelin Enterprises Private Limited MEPL under the SARFAESI Act 2002 and manufacturing operations from all locations have been discontinued nIn addition the Company has received demand notice from Tamilnad Mercantile Bank Ltd TMBL under Section 13 2 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 Sarfaesi Act and the Rules framed thereunder for recovery of their dues vide letter dated 23rd November 2021 amounting to Rs 32.94 Crores plus future interest as applicable thereon in terms of loan agreement. TMBL has denied to release the pro rata charge on assets of the company. Therefore TMBL approached DRT Mumbai for recovery of their dues from the Company and CFM DRT Mumbai has passed interim order and CFM challenged the maintainability of TMBL application in DRAT where their contention was upheld thereafter TMBL has approached Gujarat High Court and matter is subjudice TMBL has also filed an IA with NCLT. nIn light of the above facts there could be a significant and material impact on the going concern status of the Company and its future operations. The Companys ability to sustain itself and generate revenues to meets its financial commitment has been critically dented. The same has been referred by the auditors in their report on results and was also referred by the auditors in their reports on the financial statements & results for the earlier years quarters. n n3. Exceptional items for the year ended 31st March 2025 and for year ended 31st March 2024 represents loss on account of Provision for doubtful debts and repossession of secured assets by the Lender. n n4. As the Company was admitted by the Honble NCLT vide its order dated 25th January 2024 therefore the Company has provided interest Nil pa wef 1st April 2023 on term loan Cash Credit limits and Cumulative Redeemable Preference Shares CRPS on its borrowings aggregating to Rs. 2,47,379 lakhs Term Loan Rs. 64,121 lakhs and Cash Credit Rs. 1,71,862 lakhs and CRPS Rs. 11,396 lakhs as against the documented rate as required as per IND AS 23 Borrowing Costs read with IND AS 109 on Financial Instruments since Company unable to service interest liability. Aggregate amount of interest not provided for as at 31st March 2025 is Rs.1,56,150 lakhs. Accordingly finance costs for the quarter ended 31st March 2025 for the quarter ended 31st Dec 2024 for the quarter ended 31st March 2024 and for the year ended 31st March 2025 and for the year ended 31st March 2024 is lower by Rs. 10,241 lakh Rs.10,110 lakh Rs. 8,819 lakh Rs. 39,462 lakh and Rs. 34,390 lakh respectively. The same has been qualified by the Auditors in their report on the results and was also qualified by the Auditors in their reports on the Financial Statements and results for the earlier year quarters. n n5. The Company had issued a corporate guarantee of USD 463.96 Million equivalent of Rs. 3,77,587 lakhs to the lenders of JBF Petrochemicals Limited JPL a step down subsidiary. However following the sale of secured assets including its investments in subsidiaries and step down subsidiary. One of the lenders of JPL vide its letter dated 24th April 2018 invoked corporate guarantee to the extent of USD 252.00 Million equivalent of Rs.1,99,155 lakhs as JPL has defaulted in servicing its borrowings towards principal and interest thereon. Company has denied above invocation and is of the view that above corporate guarantee was valid only up to one year from the Commercial operation date i.e. 31st March 2017 and all obligations of the Company towards above lenders stand rescinded have fallen away and ceased to exist as on 1st April 2018. In view of the above, invocation of corporate guarantee on 24th April 2018 is not legally tenable and hence no provision is required towards the guarantee so invoked. Company has discontinued recognition of guarantee commission w.e.f. 1st April 2018. Further IDBI bank has filed IA with NCLT Ahmedabad against rejection of their claim in CIRP process which stands allowed & in compliance of orders of Honourable NCLT RP has admitted the claim of IDBI. However RP and CFM have filed appeal in NCLAT against the NCLT order Voting on the Resolution plan has been stayed by the Honble NCLAT The same has been referred by the Auditors in their report on the results and was also referred by the Auditors in their reports on the Financial Statements and results for the earlier years quarters. n n6. Due to the repossession of secured assets including all investments made by the Company in its subsidiaries and step down subsidiary on 6th June 2022 the exposures has been reduced to NIL n n7. Due to financial restructuring negotiation with lenders and or investors Company did not receive the audited financial statements of its subsidiaries hence the Company could not prepare the consolidated financial statements of the Company and accordingly no consolidated financial results have been published. The same has been referred by the auditors in their report on results and was also referred by the auditors in their report on the financial statements and results for the earlier years quarters. As on 31st March 2023 Ms. Madelin Enterprises Pvt Ltd has acquired the holding of our Company in the Subsidiary Company JBF Global Pte Limited situated at Singapore under the Sarfaesi Act but pending transfer in the name of Madelin Enterprises Pvt Ltd the shares are still in name of the company as on date. n n8. There is no Chief Executive Officer CEO Chief Financial Officer CFO and Company Secretary CS and Compliance Officer of the Company. The same has been referred by the auditors in their report on results and was also referred by the auditors in their report on the financial statements and results for the earlier years quarters. n n9. One of the operational creditors of JBF RAK LLC situated at UAE JBF RAK had made an application with National Company Law Tribunal NCLT under Insolvency and Bankruptcy Code 2016 against the Company for supply of raw materials to JBF RAK and claimed for a debt of Rs. 12,848 lakh USD 19,899,091.53 as per notice dated 17th February 2020. This application stand dismissed as infructuous hence no provision is required for above claim. Further the operational creditor of JBF RAK LLC has filed its claim with RP which also has been rejected by him and matter is subjudice. As rejection is contested by the operational Creditor the same has been referred by the auditors in their report on results and was also referred by the auditors in their report on the financial statements and results for the earlier years quarters. n n10. In the opinion of the management the Company was engaged only in the business of producing polyester based products. As such there are no separate reportable segments. n n11. An application was filed before the National Company Law Tribunal NCLT Ahmedabad by one of the Operational Creditor against the Company under section 9 of Insolvency and Bankruptcy Code 2016 The matter was admitted by the Honble NCLT vide its order dated 25th January 2024 and Corporate Insolvency Resolution Process CIRP is in progress. Further resoltion plans have been received but voting on the same is stayed by Honble NCLAT. n n12. The figures for the corresponding previous period year have been regrouped re arranged wherever necessary to make them comparable. n



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 0
Capital work-in-progress 0
Investment property 0
Goodwill 0
Other intangible assets 0
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 0
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 0
Total non-current financial assets 0
Deferred tax assets (net) 0
Other non-current assets 0
Total non-current assets 0
2 Current assets
Inventories 0
Current financial asset
Current investments 0
Trade receivables, current 31100000
Cash and cash equivalents 43700000
Bank balance other than cash and cash equivalents 1600000
Loans, current 100000
Other current financial assets 0
Total current financial assets 76500000
Current tax assets (net) 100000
Other current assets 481400000
Total current assets 558000000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 558000000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 818700000
Other equity -29346200000
Total equity attributable to owners of parent -28527500000
Non controlling interest
Total equity -28527500000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 0
Total non-current financial liabilities 0
Provisions, non-current 0
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 0
Current liabilities
Current financial liabilities
Borrowings, current 23598400000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 16000000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 356100000
Total Trade payable 372100000
Other current financial liabilities 4598500000
Total current financial liabilities 28569000000
Other current liabilities 512200000
Provisions, current 4300000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 29085500000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 29085500000
Total equity and liabilites 558000000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income 0 0



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax -52700000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 0
Adjustments for decrease (increase) in inventories 0
Adjustments for decrease (increase) in trade receivables, current -1700000
Adjustments for decrease (increase) in trade receivables, non-current 26000000
Adjustments for decrease (increase) in other current assets 0
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 68800000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 0
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 0
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 800000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 0
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 92300000
Net cash flows from (used in) operations 39600000
Dividends received 0
Interest paid 0
Interest received 900000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 40500000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 0
Purchase of property, plant and equipment 0
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities 0
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 0
Payments of lease liabilities 0
Dividends paid 0
Interest paid 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 0
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 40500000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 40500000
Cash and cash equivalents cash flow statement at beginning of period 3200000
Cash and cash equivalents cash flow statement at end of period 43700000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 S C AJMERA and CO Yes 31-May-2028


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 800000 800000
2 Total Expenditure 53500000 3999700000
3 Net Profit/(Loss) -52700000 -3998800000
4 Earnings Per Share -0.64 -48.84
5 Total Assets 558000000 558000000
6 Total Liabilities 558000000 4504200000
7 Net Worth -28527500000 32473700000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)


Text Block
Textual Information(1) The auditors of the Company in their report on the Standalone Financial Statements, have reported in their report, that n ni. As the Company was admitted by the Honble NCLT vide its order dated 25th January 2024, therefore, the Company has provided interest Nil p.a. w.e.f. 1st April 2023 on term loan, Cash Credit limits and Cumulative Redeemable Preference Shares CRPS on its borrowings aggregating to Rs. 2,47,379 lakhs Term Loan Rs. 64,121 lakhs and Cash Credit Rs. 1,71,862 lakhs and CRPS Rs. 11,396 lakhs as against the documented rate as required as per IND AS 23 Borrowing Costs read with IND AS 109 on Financial Instruments since Company unable to service interest liability. Aggregate amount of interest not provided for as at 31st March, 2025 is Rs.1,56,150 lakhs. Accordingly, finance costs for the quarter ended 31st March 2025, for the quarter ended 31st Dec, 2024, for the quarter ended 31st March,2024 and for the year ended 31st March 2025 and for the year ended 31st March 2024 is lower by Rs. 10,241 lakh, Rs.10,110 lakh, Rs. 8,819 lakh, Rs. 39,462 lakh and Rs. 34,390 lakh respectively. The same has been qualified by the Auditors in their report on the results and was also qualified by the Auditors in their reports on the Financial Statements and results for the earlier year quarters. n nii. One of the operational creditors of JBF RAK LLC, situated at UAE JBF RAK, had made an application with National Company Law Tribunal NCLT under Insolvency and Bankruptcy Code, 2016 against the Company, for supply of raw materials to JBF RAK and claimed for a debt of Rs. 12,848 lakh USD 19,899,091.53 as per notice dated 17th February, 2020. Management is of the view that in view of negotiation with the above creditor by JBF RAK and based on past settlement by the Company with above creditors in respect of raw material purchased by the Company, there will be no liability on account of it to the Company and hence no provision is required towards above claim. The same has been referred by the auditors in their report on results and was also referred by the auditors in their report on the financial statements and results for the earlier years quarters. n n
Textual Information(2) As the Company was admitted by the Honble NCLT vide its order dated 25th January 2024 and the Company will not be in a position to service the finance cost.
Textual Information(3) Not Applicable
Textual Information(4) In respect of Audit Qualification as referred in II a ii above application filed by one of the operational creditors of JBF RAK LLC, a subsidiary of the Company, against the Company This application stand dismissed as infructuous. The operational creditor of JBF RAK LLC has filed its claim with RP, which also has been rejected by him and matter is subjudice, as rejection is contested by the operational Creditor, there will be no liability on account of it and hence, management of the Company does not expect any liability on account of above claim. The company has shown this amount as Contingent Liability.
Textual Information(5) Auditors Comments on i or ii above Refer Basis for Qualified Opinion in the Independent Audit Report on the Standalone Financial Statements dated 28th May, 2025.


Signatories detail
Name of CEO / Managing director NO
Name of CFO NO
Name of audit committee chairman NO
Name of statutory auditor ARUN SARUPRIA
Name of other signatory, if any, with designation MUKESH VERMA (RP)
Place MUMBAI
Date 28-May-2025


Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 JBF INDUSTRIES LIMITED MRS UJJWALA G APTE Director Remuneration Approved in Shareholders Meeting 59871400000 59871400000 59871400000
Total value of transaction during the reporting period 59871400000