Intimation regarding filing of suit of recovery pursuant to Regulation 30 of SEBI(LODR) Regulations, 2015
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Josts Engineering Company Ltd has filed a recovery suit against Renew Solar Energy (Jharkhand One) Private Limited in the District Court at Patiala House, Delhi, for an amount of Rs. 78.70 lakh (including interest). The claim relates to outstanding payment for machinery supplied by Josts and what the company describes as a wrongful invocation of a bank guarantee by the counterparty. Since Josts is the plaintiff (claimant), there is no cash outflow risk if the case is decided against it; if successful, the company expects to recover the full principal along with claimable interest. The intimation was made on 15th September 2025 under SEBI LODR Regulation 30.
For shareholders, this is a positive disclosure — the company is actively pursuing recovery of dues owed to it, with potential upside if the suit succeeds. However, recovery timelines through Indian district courts can be lengthy, so the financial benefit, if any, is likely to be back-ended.