Nova Iron & Steel Ltd — Important, 09-07-2026: Company Update

Nova Iron and Steel has received another Provisional Attachment Order from the Directorate of Enforcement (ED). The order attaches immovable properties worth approximately Rs. 6.56 Crore, held in the names of former BPSL employees on behalf of NISL, and shares of NISL valued at about Rs. 10.10 Crore, held by promoter group companies. The total attached value under this order is Rs. 16.66 Crore. These assets are considered proceeds of crime from funds received from Bhushan Power & Steel, which is under a money laundering investigation. The company is evaluating legal steps and maintains that the order has no material impact on its day-to-day operations.