Pursuant to NCLT Order No. IA(IBC)/2832(MB)2025IA(IBC)/INC.P.(IB)/66(MB)201 dated 13th August 2025, the Board in their meeting held on Today, 26th March 2026 has allotted 70 LAKHS equity ....
FUNDRAISE
◆ Monitor Closely
MEDIUM RISK
📅 Filed on BSE: 26 Mar 2026, 04:28 PM IST · BSE ID: dc0dc22e-4397-4cbe-81b5-952e4537cdd7
View Original BSE Filing (PDF)
💡
In Simple Terms
Jaquar bought the struggling Euro Ceramics company through a court-supervised auction for Rs. 42.9 Crore and took control on 26 March 2026.
🤖 AI Summary
- Jaquar and Company Pvt Ltd acquired Euro Ceramics Ltd for Rs. 42,90,00,000 in NCLT liquidation sale
- NCLT order IA(IBC)/2832(MB)2025 dated 13 August 2025 confirmed e-auction and going concern sale
- Euro Ceramics Board allotted 70 lakhs equity shares on 26 March 2026 post-acquisition
- Sale includes all assets excluding avoidance transactions and bank accounts on 'as is where is' basis
- Full custody, property control and original documents transferred to Jaquar; liquidation ongoing
🔢 Key Numbers — exact figures from BSE filing, not rounded
Acquisition price
Rs. 42,90,00,000 (Rs. 42.9 Crore)
Equity shares allotted post-acquisition
70 lakhs shares
NCLT order date confirming sale
13 August 2025
Board allotment date
26 March 2026
🏢 How This Affects the Company
Euro Ceramics transitioned from liquidation to operational control under Jaquar ownership. The company remains a going concern with all operational assets and capacity retained, enabling continuation of business operations under new management.
Jaquar paid Rs. 42,90,00,000 (Rs. 42.9 Crore) as full acquisition consideration. Euro Ceramics received capital infusion through equity allotment of 70 lakhs shares. Liquidator assets and liabilities handled per liquidation framework; NCLT restricted any adjustment claims.
Jaquar assumes full operational control, workforce, manufacturing assets and facilities. All original title documents and accounting records transferred. Security personnel deployed by liquidator withdrawn. Company operational systems intact under new owner's management structure.
Pending litigations (PUFE application, two NCLAT appeals, other matters) continue under liquidation supervision. Liquidation closure deferred pending litigation resolution. Jaquar acquired on 'no recourse' basis; accounting adjustments per standards remain buyer's responsibility.
👥 What This Means For Shareholders
✅
Action Required
Shareholders must track final liquidation closure and litigation outcome filings. Confirm share allotment and capital structure changes in personal demat records.
👤
Who Is Affected
Existing equity shareholders diluted by 70 lakhs new shares allotted post-acquisition. Creditor classes (financial and operational) treated per liquidation waterfall; equity holders rank last.
🔍
Management Signal
Jaquar's acquisition at Rs. 42.9 Crore values the company as operational enterprise. New owner invested capital and assumed full operational control, signalling intent to revive and operate the business.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Final liquidation closure order — track when pending PUFE application and NCLAT appeals are resolved
Jaquar operational performance filing — monitor business continuation and revenue generation post-takeover
Shareholder communication on dilution and capital structure — detailed equity allotment terms and voting impact
MEDIUM RISK
Liquidation process ongoing with unresolved litigations. 'No recourse' sale terms limit shareholder recourse for undisclosed liabilities. Jaquar's turnaround execution capability unproven.
💡 Investor Takeaway
Euro Ceramics sold for Rs. 42,90,00,000 (Rs. 42.9 Crore) to Jaquar and Company through NCLT liquidation process on 13 August 2025. Board allotted 70 lakhs equity shares on 26 March 2026 post-acquisition. Going concern sale preserves operations; pending litigations and liquidation closure remain unresolved.
⚖️ Strengths & Concerns
✅ Positives
- Going concern sale preserves operational capacity, workforce and manufacturing assets under new owner Jaquar
- Full e-auction process with competitive bidding and NCLT oversight ensures transparent price discovery at Rs. 42.9 Crore
⚠️ Concerns
- Liquidation still ongoing — multiple pending litigations (PUFE, NCLAT appeals) prevent closure and create uncertainty
- Sale on 'as is where is' basis — buyer assumes all accounting adjustments and undisclosed liabilities; no recourse to seller