News Tags

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.

Related Keywords: CII, investment destination, Jaipur summit, multi-country linkages, Partnership with Ministry of Commerce, Rajasthan, Textile Industry

Confederation of Indian Industry (CII) in association with the Ministry of Commerce and Industry is organizing a three day 'Partnership Summit' in Jaipur, Rajasthan an important place to organize such summits as it attracts one third of the tourists coming into India and a prosperous textile industry is present there. The Summit will begin from January 15.