Shyam Metalics and Energy Faces Provisional Attachment Order on Investments of Subsidiary
Shyam Metalics and Energy Limited disclosed that the Directorate of Enforcement (ED) has issued a Provisional Attachment Order relating to investments held by its wholly owned subsidiary, Shyam Sel and Power Limited (SSPL). The order, dated April 15, 2026, attached certain financial investments under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA).The Company confirmed receiving the Provisional Attachment Order No. 23/2026 on April 16, 2026, via email.
The attached investments total Rs. 159.51 Crore. Specifically, Rs. 152.48 Crore relates to investments in corporate bonds and alternate investment funds held by SSPL.
The attachment stems from an ongoing investigation concerning alleged illegal coal mining and pilferage in the leasehold areas of Eastern Coalfields Limited (ECL).
Shyam Metalics and Energy Limited clarified that the attachment is provisional and subject to confirmation by the Adjudicating Authority under the PMLA. The Company stated that the attachment pertains to the alleged purchase of coal illegally excavated from Eastern Coalfields Limited (ECL) Mines, carried out by a syndicate. The firm emphasized that no linkage was found with the Company in this matter, and it is taking appropriate legal recourse.
According to the details provided, the financial implications of the attachment, if any, are limited to Rs 152.48 crores. The Company characterized this amount as marginal, noting that it represents 1.44% of the Company's consolidated net worth of Rs 10,553 crores, as per its audited financial statements as of March 31, 2025.
For a detailed overview of the financial figures and implications, please refer to the table below.
| Financial Metric | Value | Notes |
|---|---|---|
| Total Provisional Attachment Amount | Rs 159.51 Crore | Total amount provisionally attached. |
| Amount Related to SSPL Investments | Rs 152.48 Crore | Amount related to corporate bonds and alternate investment funds. |
| Company's Consolidated Net Worth | Rs 10,553 Crores | As per audited financials as at March 31, 2025. |
| Financial Impact Percentage | 1.44% | The potential financial implication is calculated against the net worth. |
| Date of Order | April 15, 2026 | Date of the Provisional Attachment Order issued by the ED. |
SHYAMMETL Stock Price Movement
Today, Shyam Metalics and Energy Limited shares edged higher, finishing the session at ₹864.2, thereby securing a 0.17% gain. The stock concluded trading on robust volume, with a total of 187,139 shares traded throughout the session.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.