India's market regulator, the Securities and Exchange Board of India (SEBI), is currently investigating Jindal Poly Films Ltd for potential violations of securities laws. The probe was initiated after SEBI received complaints from a group of minority shareholders. These shareholders raised concerns about interconnected dealings between Jindal Poly Films and other companies within the group.
The core of the investigation centers on these dealings between group companies, with SEBI scrutinizing whether these transactions adhere to all applicable regulations and protect the interests of all shareholders, particularly the minority stakeholders.
In addition to its independent investigation, SEBI is also taking steps to influence a class action lawsuit already filed by minority shareholders against Jindal Poly Films, its promoters, board, and management. As part of this, SEBI is reportedly filing an application with the National Company Law Tribunal (NCLT). This intervention highlights SEBI's commitment to ensuring that the concerns of minority shareholders are thoroughly addressed within the existing legal framework.
Jindal Poly Films has responded to the reports, stating that it has not received any official notices or orders from SEBI regarding the investigation or any alleged securities law violations. A company spokesperson affirmed that Jindal Poly Films is a law-abiding entity and that all transactions conducted by the company are legitimate and compliant with applicable regulations. The spokesperson also noted that the company had not been served with any application purportedly filed by SEBI before the NCLT. Furthermore, Jindal Poly Films clarified that it had not been issued a notice by the NCLT in the class action petition filed by Ankit Jain, and that the matter is currently reserved for orders on maintainability as of November 20, 2025. The company maintains that any unverified assertions or allegations circulating in the public domain are not formally before the company. However, legal counsel for the shareholders involved in the class action lawsuit claim to have been served an application on behalf of SEBI.
SEBI's role is to protect the interests of investors in securities, promote the development of the securities market, and regulate the market. This investigation into Jindal Poly Films reflects SEBI's commitment to upholding these responsibilities and ensuring fair practices within the Indian securities market. The outcome of both SEBI's investigation and the class action lawsuit could have significant implications for Jindal Poly Films and its stakeholders.
