Shyam Metalics: ED provisionally attaches ₹152.48 Cr investments of WOS

The Directorate of Enforcement (ED) has issued a Provisional Attachment Order for investments totaling ₹159.51 Crore, received by Shyam Metalics and Energy Ltd on April 16, 2026. Of this, ₹152.48 Crore pertains to investments in corporate bonds and alternate investment funds held by Shyam Sel and Power Limited (SSPL), a wholly-owned subsidiary. The attachment is linked to an ongoing investigation into alleged illegal coal mining and pilferage in Eastern Coalfields Limited (ECL) areas under the Prevention of Money Laundering Act, 2002 (PMLA). The company clarifies that the attachment is provisional, subject to Adjudicating Authority confirmation, and states no linkage was found with the company during the investigation. Shyam Metalics is pursuing appropriate legal recourse. The company asserts no operational impact and a limited financial impact, if any, of ₹152.48 crore, representing 1.44% of its consolidated net worth.