Shyam Metalics and Energy Limited has issued a clarification regarding a Provisional Attachment Order received from enforcement authorities. The order involves investments worth ₹159.51 crore, primarily held by its subsidiary, Shyam Sel and Power Limited. The company asserts that no linkage exists between its operations and the alleged illegal coal mining case under investigation. The financial impact is considered marginal, representing only 1.44% of the company’s consolidated net worth.
Understanding the Attachment Order
On April 16, 2026, Shyam Metalics and Energy Limited received a notification concerning a Provisional Attachment Order dated April 15, 2026. This legal action targets investments totaling ₹159.51 crore, of which ₹152.48 crore is tied to corporate bonds and alternate investment funds held by its wholly-owned subsidiary, Shyam Sel and Power Limited (SSPL).
Impact Assessment
The company has explicitly stated that the attachment is provisional and subject to confirmation by the relevant authorities. Management emphasizes that there is no impact on the daily operations of the parent entity or any of its subsidiaries. Furthermore, the company clarified that it has fully cooperated with the investigation and has no connection to the alleged illegal coal procurement involving a third-party syndicate.
Financial Position
From a financial standpoint, the potential exposure is viewed as minimal. The ₹152.48 crore amount accounts for approximately 1.44% of the company’s consolidated net worth, which stood at ₹10,553 crore as of March 31, 2025. The company is currently pursuing appropriate legal recourse to resolve the matter and safeguard its interests.
Source: BSE
