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JCT Electronics has informed the exchanges that the Board for Industrial and Financial Reconstruction has, on the application made by the Asset Reconstruction Company (I) and unequivocally supported by other banks and financial Institutions, declared the rehabilitation scheme sanctioned by them for the company in March, 2007, as failed. It also formed a prima facie opinion that it would be just, equitable and in public interest that the company be wound up under SICA. The BIFR has accordingly ordered issue of notice for proposed winding up to be published in newspapers for information of shareholders, and creditors, among others. Shares of JCT Electronics surged 5 per cent at ₹0.42 on the BSE.
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