Jai Corp Ltd, a Mumbai-based company known primarily for plastic manufacturing, is in the news again, as the Central Bureau of Investigation or CBI, has reportedly registered a case against the company director, Anand Jain.
CBL Regsiters Case
The authorities have taken action against Director Anand Jain, M/s Urban Infrastructure Venture Capital, M/s Urban Infrastructure Trustees Ltd and other for allegedly defrauding funds to the tune of Rs 2,434 crore from investors.
In February 2025, the Bombay High Court ordered the formation of a Special Investigation Team (SIT) to probe financial fraud allegations against Anand Jaikumar Jain.
This came to pass after public rights campaigner Shoaib Richie Sequeira submitted a petition seeking an independent investigation into the alleged theft of public funds, investment fraud, and money laundering.
Jai Corp Shares
Jai Corp was incorporated in 1985, and is listed both on the NSE and the BSE. When we look at the company shares and their performance on Wednesday, March 5, the company shares hit the upper circuit.
At the time of writing, the company shares rose by 4.99 per cent or Rs 4.88, taking the overall value to Rs 102.59 per piece.
Recent Troubles
The company previously made it to the news when its shares dipped significantly at the very beginning of the year.
On January 2, the company shares hit a 52 week low, hitting the lower circuit, after a monumental collapse of 20 per cent after a major capital reduction proposal involving Urban Infrastructure Holdings Private Limited (UIHPL) was announced.
In the past 6 months of trade at the equity markets, the company shares have dipped by a colossal 71.82 per cent or Rs 261.51 per piece.
The company shares 52 week high stands at Rs 438.30 per share. Meanwhile, its 52 week low stands at Rs 90.49 per piece.
