Jindal Poly Investment & Finance Company Ltd

Jindal Poly Investment & Finance Company Ltd

Jindal Poly Investment and Finance Company Limited was incorporated on July 11 2012 vide certificate of incorporation issued by the Registrar of Companies U.P. & Uttarakhand Kanpur. The Company was issued certificate for commencement of business on August 7 2012. The Company is engaged in the business of investment and holding investment mainly in its Group Companies.During the period 2016-17 Jindal India Powertech Limited become the Subsidiary of the Company w.e.f 24 March 2017. Consequently Subsidiaries of Jindal India Powertech Limited i.e. Xeta Properties Pvt. Ltd. Jindal India Thermal Power Limited Mandakini Exploration and Mining Limited Consolidated Mining Limited and Jindal Operation and Maintenance Limited became the step down subsidiaries of the Company in 2017. Jindal Poly Films Investment Limited wholly owned subsidiary ceased to be the subsidiary of the company due to its merger with Jindal Photo Investments Limited dated 20th December 2016. Jindal India Thermal Power Limited has been ceased to be the subsidiary of Jindal India Powertech Limited w.e.f 12th June 2017 consequently JITPL and its Subsidiaries thereof i.e. Mandakini Exploration and Mining Limited Consolidated Mining Limited and Jindal Operation and Maintenance Limited has been ceased to be the step down Subsidiaries of the Company. Jindal India Thermal Power Limited has been ceased to be the Associate Company of Jindal India Powertech Limited w.e.f 13th February 2018.Jindal India Powertech Limited (JIPL) subsidiary of Company had made further investment in the Equity Shares of Jindal India Thermal Power Limited (JITPL) on 22nd June 2021. Due to acquisition of new shares Shareholding in JITPL has increased to 28.07%. Accordingly JITPL became an Associate Company of JIPL w.e.f 22nd June 2021. JIPL pledged 399805923 Equity Shares of JITPL (constituting 66% of total Equity Shareholding of JITPL ) to the lenders of JITPL which was invoked by lenders in the FY 2017-18 on account of nonpayment of dues by JITPL. JITPL paid entire upfront amount on 24th June 2021 and the invoked Equity Shares have been released on August 02 2021 to JIPL. Accordingly and JITPL became a Subsidiary Company of JIPL and Step Down Subsidiary of the Company. Jindal India RE Limited (JIRL) was incorporated as Subsidiary of JIPL on 10th November 2021.