{"id":581595,"date":"2023-06-03T09:32:56","date_gmt":"2023-06-03T04:02:56","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=581595"},"modified":"2023-06-03T10:15:39","modified_gmt":"2023-06-03T04:45:39","slug":"gail-infuses-rs-2100-crore-in-insolvent-chemical-firm-jbf-petrochemicals","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gail-infuses-rs-2100-crore-in-insolvent-chemical-firm-jbf-petrochemicals\/","title":{"rendered":"GAIL infuses Rs 2,100 crore in insolvent chemical firm JBF Petrochemicals"},"content":{"rendered":"<p>India&#8217;s largest gas firm GAIL has infused Rs 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals Ltd that it had acquired in bankruptcy proceedings.<\/p>\n<p>The firm had in March won bankruptcy court approval for taking over JBF.<\/p>\n<p>In a stock exchange filing, GAIL (India) Ltd said it has &#8220;infused Rs 2,101 crore (equity &#8211; Rs 625 crore and debt &#8211; Rs 1,476 crore)&#8221; in the committed bankruptcy resolution plan.<\/p>\n<p>&#8220;Accordingly, JBF has become a wholly-owned subsidiary of GAIL with effect from June 1, 2023,&#8221; it said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s largest gas firm GAIL has infused Rs 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals Ltd that it had acquired in bankruptcy proceedings. The firm had in March won bankruptcy court approval for taking over JBF. In a stock exchange filing, GAIL (India) Ltd said it has &#8220;infused Rs 2,101 crore (equity &#8211; Rs 625 crore and debt &#8211; Rs 1,476 crore)&#8221; in the committed bankruptcy resolution plan. &#8220;Accordingly, JBF has become a wholly-owned subsidiary of GAIL with effect from June 1, 2023,&#8221; it said.<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-581595","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/581595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=581595"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/581595\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=581595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=581595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=581595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}