Update regarding quashing of compliant filed by Directorate of Enforcement
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rathi Steel & Power Ltd informed the stock exchanges that the Special Judge (PC Act) (CBI) at Rouse Avenue District Court, New Delhi has declined to take cognizance of a complaint filed by the Directorate of Enforcement (ED) against the company, its promoters (Mr. Udit Rathi and Mr. Pradeep Rathi), and another official. The ED's complaint alleged money laundering linked to coal block allocation cases. The court order was received by the company on March 6, 2026. The company has stated that this development does not impact its financial operations or day-to-day business activities. Earlier summons were received in November 2024 and June 2025 in connection with the same matter.
This is a positive outcome for the company and its promoters as the court has refused to proceed with the ED's money laundering complaint, removing a key legal overhang. Shareholders may view this favorably, though the underlying allegations are not formally quashed at higher levels and the matter could still evolve.