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JCT Electronics has informed the exchanges that the operations of the company remain suspended on account of working capital constraints. Recently ARCIL, which now holds over than 55 per cent of the company’s debts, had approached BIFR to declare the sanctioned scheme (for revival in 2007) a failure and recommended its winding up. Consequently, BIFR has sent directions to all stakeholders and the case is now posted for hearing to August. As part of the sanctioned scheme, besides the promoters infusing funds, banks were to release need-based working capital to the tune of ₹54 crore. But till date, banks have not released any working capital despite regular follow up by JCT Electronics, the company said in a notice to the BSE.
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