Nova Iron & Steel Ltd — Important, 08-08-2026: Company Update

The company has received another Provisional Attachment Order from the Directorate of Enforcement, part of an investigation into Bhushan Power & Steel Limited's (BPSL) alleged **Rs. 47,204 Cr** loan default. The ED states **Rs. 201.20 Cr** from BPSL, considered 'proceeds of crime,' is still with Nova Iron and Steel. This new order provisionally attaches 9.21% of Nova Iron and Steel shares held by Aromatic Steel Private Limited, valued at **Rs. 4.19 Cr**. The company is reviewing the order and plans legal action, noting no material impact on daily operations.