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Jindal Poly Investment and Finance Company has informed the exchanges that Jindal India Thermal Power has ceased to be a subsidiary of the company. The company received a notice from its subsidiary Jindal India Powertech (JIPL) stating that lenders of its step-down subsidiary Jindal India Thermal Power (JITPL) have invoked the pledge of 51 per cent equity shares in the latter on June 12. Following this, JITPL ceased to be a subsidiary of JIPL and, in turn, of the company from June 12. Shares of the company slipped 0.53 per cent at ₹84.10 on the BSE.
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