Jonjua Overseas Limited (Scrip Code: 542446, Trading Symbol: JONJUA) has filed a regulatory disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company announced that it has filed an Expression of Interest (EOI) in the insolvency process of Soni Soya Products Limited, a listed company based in Indore, Madhya Pradesh. The company believes this acquisition will provide it with strategic outreach into Central India.
Jonjua Overseas Limited highlighted its business background, stating it has been in the business of dealing in listed and unlisted stocks including financially stressed companies for the past 33 years. The disclosure emphasizes the experience and expertise of its management team in corporate revival processes under the Insolvency and Bankruptcy Code, 2016 (IBC, 2016).
Key management expertise includes:
- Founder Managing Director Major Harjinder Singh Jonjua (Retd.) with experience since 1990, qualified as military engineer (MIE, Ch Eng.)
- Mr. Harmanpreet Singh Jonjua (CS, LLM) who provides insight into corporate law and necessary legal compliances
The company positions this expertise as critical for success in reviving financially troubled and insolvent companies, which they describe as "the need of the hour in the country."