Jindal Poly Films Limited has disclosed, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that the Hon'ble National Company Law Tribunal (NCLT), Principal Bench, New Delhi, in its hearing held on May 7, 2026, allowed the substitution of a new shareholder as lead applicant in an ongoing minority shareholder petition. The disclosure was made on May 8, 2026, and is in continuation of the company's earlier disclosure dated April 10, 2026.

Background of the Petition

The petition in question, Company Petition No. 58/245/PB/2024, was originally filed by Mr. Ankit Jain & Ors., minority shareholders of Jindal Poly Films Limited. Following the exit of the original lead applicant and two other co-applicants from the case, the NCLT permitted the substitution of a new shareholder as the lead applicant to continue the proceedings.

Key Development: Substitution of Lead Applicant

The NCLT order dated May 7, 2026, directed that M/s Monet Securities Pvt Ltd be substituted as the relevant lead applicant in place of the earlier lead applicant and other applicants. The company has noted that this procedural change does not affect the merits of the ongoing case. As of the date of disclosure, the company had not yet received a copy of the formal NCLT order.

The key details of the NCLT communication, as disclosed by the company under Annexure A, are summarised below:

Company's Response and Next Steps

Jindal Poly Films has stated that it is examining the directions issued by the NCLT and will take such steps as may be considered appropriate. The company has also confirmed that no penalty, restriction, or sanction has been imposed pursuant to this communication, and no non-compliances have been identified by the authority. The expected financial implications on the company remain undetermined as the matter is currently sub-judice.

The disclosure was signed by Rashmi Gupta, Company Secretary & Compliance Officer (FCS 8616), on May 8, 2026, from New Delhi, affirming that the information provided is true, correct, and complete to the best of her knowledge and belief.

Jindal poly films Limited has informed stock exchanges about receiving a show cause notice from the Securities and Exchange Board of India (SEBI) regarding certain transactions and governance-related matters. The regulatory communication was received on April 27, 2026, and disclosed to exchanges on April 28, 2026.

Show Cause Notice Details

The show cause notice was issued under reference number SEBI/HO/OWTM/OWTM-SP/I/10156/2026 and delivered through email. The notice addresses observations on certain transactions and issues pertaining to disclosures and governance matters.

Regulatory Framework and Scope

SEBI has issued the show cause notice under multiple sections of the SEBI Act, 1992, specifically:

• Section 11(1)
• Section 11(4)
• Section 11(4A)
• Section 11B(1)
• Section 11B(2)

These sections are read with Sections 15HA and 15HB of the SEBI Act, 1992, in relation to certain transactions and matters pertaining to disclosures and corporate governance.

Current Status and Company Response

The show cause notice is directed at the company and its key management personnel, promoter, and group entities. At this stage, no penalty, restriction, or sanction has been imposed. The notice merely calls upon the recipients to explain why suitable directions and penalty proceedings should not be initiated.

Company's Position and Next Steps

Jindal Poly Films Limited has stated its commitment to extending full support and cooperation to SEBI regarding any inquiries. The company emphasized that all business decisions were taken under commercial wisdom with necessary approvals as required under applicable laws.

The company is currently in the process of taking appropriate course of action, including filing its reply to the show cause notice. Management has reiterated its commitment to complying with the required legal and regulatory framework and adhering to the highest standards of corporate governance.

Financial Impact Assessment

The company has disclosed that the financial implications, if any, cannot be ascertained at this stage since the communication is in the nature of a show cause notice. The company will need to respond to SEBI's observations before any potential financial impact can be determined.