In a significant development for Jayaswal Neco Industries Limited (JNIL), the Delhi High Court has suspended the three-year imprisonment sentence of Shri Ramesh Jayaswal, the company's Managing Director, in a coal block allocation case. This decision marks a crucial turn in the ongoing legal proceedings related to the allocation of coal blocks in Jharkhand.

Case Background

The case revolves around the allocation of coal blocks (Brinda, Sisai, and Meral) in Jharkhand to Abhijeet Infrastructure Private Limited. Shri Ramesh Jayaswal, who served as the Authorised Signatory for Abhijeet Infrastructure at the time of allocation, was convicted by the CBI Special Court on December 9, 2024. The court had sentenced him to three years of imprisonment and imposed a fine of Rs 20.00 lakhs.

Appeal and Suspension of Sentence

Following the conviction, Shri Jayaswal filed an appeal under Section 415(2) and an application under Section 430 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) before the Delhi High Court. The High Court admitted the appeal and subsequently suspended the sentence on August 1, 2025.

Implications for JNIL

JNIL has stated that there will be no direct financial impact on the company as a result of these legal proceedings. However, the case remains significant due to Shri Ramesh Jayaswal's position as the Managing Director of JNIL.

Chronology of Events

Company's Disclosure

In compliance with SEBI regulations, JNIL has made timely disclosures to the stock exchanges regarding the developments in this case. The company has emphasized transparency in its communications, providing updates at each stage of the legal proceedings.

As the case continues to unfold, stakeholders will be closely watching for any further developments that may impact JNIL's operations or leadership structure. The suspension of the sentence allows Shri Ramesh Jayaswal to continue in his role as Managing Director while the appeal is pending before the Delhi High Court.

In a significant development for Jayaswal Neco Industries Limited (JNIL), the Delhi High Court has suspended the sentence imposed on Ramesh Jayaswal, the company's Managing Director, in connection with an ongoing coal block case. This decision comes as a relief for the company and its leadership.

Key Details

• The Delhi High Court's order suspending the sentence was issued on August 1.
• The original sentence was handed down by the Special CBI Court on December 11.
• This case is part of ongoing proceedings related to coal block allocations.

Company Disclosure

Jayaswal Neco Industries Limited, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has promptly informed the stock exchanges about this development. The company's disclosure, dated August 2, provides a chronological account of the legal proceedings:

• December 9: Initial order by the Central Bureau of Investigation (CBI) Special Court.
• December 11: Sentencing order by the CBI Special Court against Ramesh Jayaswal.
• February 14: An order by the Delhi High Court, details of which were received on February 18.
• August 1: The latest order by the Delhi High Court suspending the sentence.

Implications

The suspension of the sentence by the Delhi High Court marks a significant turn in the legal proceedings against Ramesh Jayaswal. While the case continues, this development may provide temporary relief to the company's operations and management.

Company Response

Ashish Srivastava, Company Secretary & Compliance Officer of Jayaswal Neco Industries Limited, has officially communicated this update to the National Stock Exchange of India Limited and BSE Limited. The company has requested the stock exchanges to take this information on record, demonstrating its commitment to transparency and regulatory compliance.

As the legal proceedings continue, stakeholders and investors of Jayaswal Neco Industries Limited will likely be watching closely for any further developments in this case and their potential impact on the company's operations and leadership.