Related Keywords: Chairman and Managing Director Samir Thapar, Indian textile maker, JCT ltd, land at Ganganagar, manufacturer of textiles and filament yarn, plan to sell noncore asset, Rajasthan, repay convertible bond holders, two plots in Delhi
JCT Ltd, one of India's leading textile makers, plans to sell some of its noncore assets to repay holders of its foreign currency convertible bonds. The company’s non-core assets include 70 acres of land at Ganganagar in Rajasthan and two plots in Delhi. The combined market value of these land would be about Rs 80-90 crore.
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.
