The Supreme Court of India has dismissed two Special Leave Petitions (SLPs) filed by The Orissa Minerals Development Company Limited against Jai Balaji Industries Limited (JBIL), via a common order dated 08.05.2026. The company disclosed this development to the stock exchanges on 14.05.2026, in compliance with Regulation 30 requirements. The Supreme Court order was received by the company on 13.05.2026.

Background of the Petitions

The two SLPs were filed by Orissa Minerals Development Company before the Supreme Court of India, challenging a judgment and order dated 09.12.2025 passed by the Hon'ble Division Bench of the High Court at Calcutta. The High Court proceedings pertained to FMA 939/2012 and FMA 941/2012. The key details of the petitions are summarised below:

Supreme Court's Order

The matter was heard on 08.05.2026 by a bench comprising Hon'ble Mr. Justice Sanjay Kumar and Hon'ble Mr. Justice K. Vinod Chandran. After hearing counsel from both sides, the Court condoned the delay in refiling and curing defects (IA No. 132836/2026) but found no good ground or reason to interfere with the impugned judgment and order passed by the High Court at Calcutta. The special leave petitions were accordingly dismissed, and all pending applications were disposed of.

Legal Representation

Both parties were represented by legal counsel during the hearing. The key representatives are noted below:

For the Petitioner (OMDC):

• Mr. K.M. Nataraj, Additional Solicitor General
• Mr. Shovan Mishra, Advocate on Record
• Ms. Bipasa Tripathy, Advocate
• Mr. Shlok Luthra, Advocate

For the Respondent (Jai Balaji Industries Limited):

• Mr. S. Niranjan Reddy, Senior Advocate
• Mr. Kaustubh Shukla, Advocate on Record
• Ms. Pushpanjali Singh, Advocate
• Mr. Vipul Kumar, Advocate
• Ms. Sana Jain, Advocate
• Ms. Gursimrat Kaur, Advocate
• Mr. Manoj Kumar, Advocate

Regulatory Disclosure

The disclosure was made by Pintu Kumar Biswal, Company Secretary of Orissa Minerals Development Company, and was addressed to the compliance departments of the National Stock Exchange of India Limited, Bombay Stock Exchange Limited, and The Calcutta Stock Exchange Limited. A copy of the Supreme Court order dated 08.05.2026 was enclosed with the communication for reference and record.

The Orissa Minerals Development Company Limited has announced the appointment of Shri GVN Prasad as Managing Director, effective February 22, 2026. The appointment comes with approval from the competent authority under the Ministry of Steel, Government of India, and represents a significant leadership transition for the government-owned minerals development company.

Leadership Transition Details

The appointment follows the completion of Shri Vasudha Chandra Suratkal's tenure, which concluded on February 21, 2026. Suratkal had served as Managing Director and Director (Production & Planning) for one year, from February 22, 2025, under order number 7/7/2015-BLA dated February 25, 2025.

Professional Background

Shri GVN Prasad brings extensive experience from his tenure at RINL, where he joined in 1987. A metallurgical engineer by qualification, he has also completed an Executive Post Graduate Program in Executive Management (EPGP) from IIM-Kozhikode.

Prior to his current role as Director (Commercial), Prasad served as General Manager (Marketing) and was in-charge of Marketing Operations at RINL. His career progression includes various marketing positions across India:

• Branch Manager (Marketing) across multiple locations in India
• Regional Manager (Marketing) in Eastern and Western Regions
• GM (Marketing) in-charge of Marketing Operations at Visakhapatnam

Recognition and Achievements

Prasad's professional excellence was recognized in 2015 when he received the prestigious Jawahar Nehru (JN) award from RINL management for outstanding performance on the official front. This recognition highlights his commitment to operational excellence and leadership capabilities.

Regulatory Compliance

The appointment disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company informed BSE, NSE, and Calcutta Stock Exchange about this key managerial personnel change on March 18, 2026.

Government Authorization

The appointment received formal authorization through Order No. 7/7/2015-BLA dated March 17, 2026, issued by the Ministry of Steel's Board Level Appointment Cell. This order specifically assigns additional charge of both Managing Director and Director (Production & Planning) positions to Prasad, demonstrating the government's confidence in his leadership capabilities for OMDC's operations.