Background and Context

This disclosure is in continuation of earlier intimations dated November 2, 2026 and November 4, 2026 regarding:

  • A petition filed by the Company before the National Company Law Tribunal, New Delhi Bench
  • Arbitration and related court proceedings commenced by Project Holdings Fourteen (DIFC) Limited against JPFL Films Private Limited
  • Reference to SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 (Master Circular)

Standstill Agreement Details

Execution Date: 13 November 2026

Parties Involved:

  • Jindal Poly Films Limited (the Company)
  • JPFL Films Private Limited (material subsidiary)
  • Project Holdings Fourteen (DIFC) Limited (the Investor)

Purpose: To explore an amicable settlement of disputes between the parties, including the NCLT petition, arbitration proceedings under Singapore International Arbitration Centre rules, and proceedings before the High Court of the Republic of Singapore.

Standstill Period: 12 days from November 13, 2026, extendable by mutual written agreement

Key Terms:

  • Parties agree not to commence any new proceedings during the standstill period
  • No further steps will be taken in the existing proceedings
  • No interim or injunctive relief will be sought in relation to the proceedings
  • Relevant forums will be informed about the standstill agreement
  • Existing orders and undertakings in the proceedings continue in full force during standstill period
  • Agreement is without prejudice to the rights, claims and contentions of the parties
  • No special rights conferred (no right to appoint directors, no first right to share subscription, no right to restrict capital structure changes)

Financial Considerations

  • No consideration payable by or to the Company under the Standstill Agreement
  • No transfer of resources, services or obligations for consideration
  • Does not qualify as a related party transaction

Shareholding Structure

In JPFL Films Private Limited:

  • Company holds approximately 99.98% of equity share capital (including nominee shareholders)
  • Investor holds 20 equity shares and 19,990 compulsorily convertible preference shares
  • Investor holds approximately 38% of total paid-up share capital on fully diluted basis

Relationship Status:

  • JPFL Films is a material subsidiary of the Company
  • Investor is not related to promoter/promoter group/group companies of the Company

Current Status

No settlement has been arrived at as of the date of this disclosure. Upon expiry of the standstill period, parties may pursue the proceedings unless the period is extended or a settlement is reached.

Additional Information

The disclosure is available on the company website at https://www.jindalpoly.com/.