JTL Defence Limited has completed the disbursement of net proceeds from the sale of fractional share entitlements to eligible shareholders. This action was undertaken pursuant to the Resolution Plan approved by the Hon'ble National Company Law Tribunal (NCLT), New Delhi Bench vide Order dated October 09, 2025.
The Resolution Plan provided for a reduction of the paid-up share capital of the Company in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016, and the Companies Act, 2013. This capital reduction resulted in fractional share entitlements for certain eligible shareholders that could not be allotted as whole numbers.
In accordance with the Resolution Plan and applicable law, these fractional entitlements were consolidated and transferred to a Suspense Account for sale in the open market on behalf of the eligible shareholders. The net proceeds from this sale have now been credited to the respective bank accounts of eligible shareholders.
The company confirms full compliance with the Resolution Plan as approved by the NCLT, the Insolvency and Bankruptcy Code, 2016 and its regulations, the Companies Act, 2013 and its rules, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
For shareholders who could not be credited due to incomplete bank details, the Company or its RTA (Registrar and Transfer Agent) will contact them to update their correct bank details.