JBF Industries Provides CIRP Update: Over ₹1,650 Crore Claims Admitted Amidst Ongoing Resolution
The announcement provides a crucial update on the Corporate Insolvency Resolution Process (CIRP), detailing the status of claims from various creditors. This information is fundamental to the company's financial restructuring and directly impacts its future operations, viability, and the recovery prospects for all stakeholders involved in the insolvency proceedings.
The company is undergoing a Corporate Insolvency Resolution Process (CIRP), a clear indication of severe financial distress. While a significant amount of claims has been admitted, a substantial portion, particularly from unsecured financial creditors and government dues, remains not admitted, which can lead to prolonged legal challenges and uncertainty regarding the resolution.
JBF Industries Limited, currently under Corporate Insolvency Resolution Process (CIRP) which commenced on January 25, 2024, has disclosed an update on its claim register as of September 20, 2025. * Total claims received amounted to ₹2,582.87 crore. * Out of these, claims worth ₹1,654.73 crore have been admitted. * Claims totaling ₹281.36 crore were not admitted. * Claims worth ₹12.62 lakh are currently under verification.
Key details by creditor category include: * Secured Financial Creditors (other than any class of creditors): Claims received were ₹2,544.82 crore, with ₹2,537.52 crore admitted and ₹7.29 crore not admitted. CFM Asset Reconstruction Pvt Ltd's claim of ₹2,501.53 crore was admitted, holding 51.188% voting share in the CoC, and Tamilnad Mercantile Bank Ltd's claim of ₹35.99 crore was admitted (0.737% voting share). * Unsecured Financial Creditors (other than any class of creditors): Claims received were ₹3,299.07 crore, with ₹2,349.40 crore admitted and ₹949.67 crore not admitted. IDBI Bank Limited's claim of ₹2,349.40 crore was admitted (48.075% voting share) following an NCLT order, which has been appealed in NCLAT. Claims from Export Import Bank of India Limited and Union Bank of India were not admitted due to expired corporate guarantees. * Operational Creditors (Employees): Claims received and admitted totaled ₹1.09 crore. * Operational Creditors (Government Dues): Claims received were ₹2,113.80 crore, with ₹258.44 crore admitted and a substantial ₹1,855.35 crore not admitted. CGST & CE had ₹256.27 crore admitted. * Operational Creditors (other than Workmen, Employees, and Government Dues): Claims received were ₹327.91 crore, with ₹327.59 crore admitted, ₹18.96 lakh not admitted, and ₹12.62 lakh under verification. A claim of ₹9.24 lakh from Marubeni Corporation was approved by the Committee of Creditors (CoC) but awaits adjudication by the Adjudicating Authority (AA).
One new claim was not admitted as the demand crystallized during the moratorium period. Additionally, one admitted claim, accepted by the CoC, is awaiting adjudication by the AA.
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JBF Industries Limited filed this with the NSE as a statutory disclosure, categorised under legal. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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