Jainco Projects (India) Limited has received notice that a financial creditor has applied to initiate insolvency proceedings against the company.

This application, filed with the bankruptcy court in Kolkata, cites a default amount of approximately 12.63 Cr.

This significant development indicates severe financial stress and potential legal challenges for the company's operations.

Shareholders should monitor this situation closely, as it could have a substantial impact on the company's future.