Jyoti Structures Limited (JSL), a prominent player in the power transmission infrastructure sector, has announced a significant new project win, bolstering its order book and market position.

Project Details

JSL has received a Notification of Award from AESL Projects Limited for a substantial transmission line project. Here are the key details of the project:

Project Significance

This project award is noteworthy for several reasons:

1. Financial Impact: The project value of Rs. 288.36 crores represents a substantial addition to JSL's order book, potentially boosting the company's revenue and profitability in the coming years.

2. Technical Expertise: The scope of work, which includes complex tasks such as soil investigation, tower supply, and commissioning of high-voltage transmission lines, showcases JSL's technical capabilities in the power infrastructure sector.

3. Strategic Location: The project's location in central India may provide JSL with an opportunity to strengthen its presence in this region and potentially lead to future projects.

Corporate Governance

In line with regulatory requirements and good corporate governance practices, JSL has confirmed that:

• None of the promoter/promoter group/group companies have any interest in AESL Projects Limited.
• The order does not fall within the purview of related party transactions.

This transparency ensures that shareholders and stakeholders can be confident in the arm's length nature of the transaction.

Market Implications

The project win could be viewed positively by investors for several reasons:

• It demonstrates JSL's continued competitiveness in securing large-scale projects.
• The long-term nature of the project (36-month completion period) provides visibility into the company's future revenue stream.
• The high-voltage nature of the transmission line (+800 kV HVDC) indicates JSL's involvement in cutting-edge power transmission projects.

As the power sector continues to evolve and expand in India, companies like Jyoti Structures Limited play a crucial role in developing the nation's power infrastructure. This project award underscores JSL's position as a key player in this critical sector.

Investors and industry observers will likely keep a close eye on JSL's execution of this project, as successful completion could pave the way for more such opportunities in the future.

Jyoti Structures Limited, a prominent player in the power transmission and distribution sector, has taken a significant legal step by filing an application with the National Company Law Tribunal (NCLT), Mumbai Bench. The company is seeking directions against certain non-fund based lenders for allegedly violating its approved resolution plan.

Key Developments

• Legal Action: Jyoti Structures has approached the NCLT, Mumbai Bench, alleging that some non-fund based lenders have contravened the provisions of the company's approved resolution plan.
• Previous Orders: The application references NCLT Mumbai orders dated August 20, 2024, which were subsequently affirmed by the National Company Law Appellate Tribunal (NCLAT), New Delhi, on December 9, 2024.
• Regulatory Compliance: The company has filed this intimation in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015.

Details of the Application

The application filed by Jyoti Structures Limited seeks:

1. Necessary directions from the NCLT
2. Action against the non-compliant lenders

This move comes in light of the alleged contravention of:

• The provisions of the resolution plan approved for the company
• The directions issued by the NCLT, Mumbai in its order dated August 20, 2024
• The affirmation of these directions by NCLAT, New Delhi on December 9, 2024

Company Background

Jyoti Structures Limited, with its corporate office in Mumbai, is known for its operations in the power sector. The company maintains manufacturing facilities in:

Additionally, the company operates a Testing Station & R&D Center in Ubhade Shivar, Village - Deole, Ghoti - Bhandardara Road, Taluka - Igatpuri, Dist. - Nasik 422402.

This legal action underscores the challenges faced by companies undergoing resolution processes and highlights the importance of adherence to approved plans by all stakeholders. The outcome of this application could have significant implications for Jyoti Structures' ongoing restructuring efforts and its relationships with lenders.