ED Provisional Attachment Order over company assets worth about Rs 201 crore
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nova Iron and Steel has received a Provisional Attachment Order dated June 25, 2026 from the Enforcement Directorate, New Delhi, under the Prevention of Money Laundering Act. The order relates to about Rs 201.20 crore the ED alleges was diverted to Nova Iron from Bhushan Power and Steel, which is being probed for a bank loan fraud of about Rs 47,204 crore. The ED has provisionally attached company properties and assets to this extent. Nova Iron says the order has no material impact on its day-to-day operations and will contest it through legal recourse.
Potential attachment of company assets up to about Rs 201 crore. Management sees no operational hit and plans to fight it. Negative overhang for the stock.