Disclosure of Stay Order of Supreme Court

Court Stay ObtainedRegulatory & Legal View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.1%Reaction day

₹31.15

prior close

₹31.15

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.7%+1.3% vs market

Iron & Steel Products peers, median of 88sector+0.0%+2.1% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty Microcap 250 and 2.1 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 88Pending

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AI summary

The Supreme Court of India, by its order dated April 9, 2025 (received by the company on April 16, 2025), has stayed further proceedings against Rathi Steel & Power Ltd and its General Manager Mr. Kushal Kumar Agarwal in a case pending before the CBI Special Court, New Delhi. The case relates to a coal block allocated in 2008 that was later cancelled, and the allegations are under Sections 44 and 45 of the Prevention of Money Laundering Act, 2002. The matter originated from summons issued in November 2024 to the company, its promoters (Mr. Udit Rathi and Mr. Pradeep Rathi), and the General Manager. The company has stated that it does not foresee any material financial, operational, or day-to-day impact from this development.

Likely market impact

Positive for shareholders — the stay halts the ongoing criminal proceedings against the company and one of its key executives, reducing near-term legal uncertainty. However, the case against the promoters remains active, so the matter is not fully closed.