Jindal Poly Films Ltd's board approved withdrawal of its SEBI application seeking stock exchange no-objection for a demerger of its Non-Woven Fabrics business into Global Nonwovens Ltd.
The withdrawal decision was driven by procedural delays, geopolitical instability, evolving business dynamics, and significant time and cost considerations for the demerger scheme.
The company confirmed the withdrawal has no material adverse financial impact and no court proceedings were initiated for the proposed scheme.
This intimation is a regulatory filing submitted to BSE and NSE pursuant to SEBI Listing Regulations and Master Circular requirements.