The Central Bureau of Investigation (CBI) Special Judge (PC Act) in New Delhi has convicted Shri Ramesh Jayaswal, the Promoter and Managing Director of JNIL (Jayaswal Neco Industries Limited), in connection with the coal block allocation case. The conviction pertains to offences related to the allocation of coal blocks (Brinda, Sisai, and Meral) in the state of Jharkhand. This order was issued on December 9, 2024, and is linked to sections 420, 120-B, 471, and 420 of the Indian Penal Code (IPC).
The conviction relates to Shri Ramesh Jayaswal’s role as the Director and later Authorized Signatory of M/s Abhijeet Infrastructure Private Limited, a company involved in the coal block allocations. It has been clarified that JNIL itself, or any other person connected to the company, is not involved in the case, limiting the direct impact on the listed entity.
The incident stems from actions taken during Shri Jayaswal’s tenure up to December 31, 2001. While the conviction does not affect JNIL’s current operations, the company has stated its compliance with regulatory disclosure requirements, as outlined by SEBI.
