In connection with the arbitration proceedings (Arbitration Petition No. 61 of 2024) between M/s Grasim Industries Limited and the Company before the court of Civil Judge (Senior Division), ....

JAYSHREE CHEMICALS LIMITED CIN : L24119WB1962PLC218608 Registered Office : 14, N. S. Road, 1st Floor, Suite No. 101, Kolkata - 700 001 Phone : (033) 71500500, E-mail : jcl@jayshreechemicals.com neoisTERED Website - www.jayshreechemicals com MSME Registration No. : TN-03-0043389 05" August, 2026 BSE Ltd. Phiroze Jeejeebhoy Towers Dalal Street Mumbai — 400001 SCRIP CODE: 506520 Subiject: Regulation 30 of SEBI (Listing Obligations and Disclosure Reguirements) Regulations 2015 Dear Sir, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) R (Ae rg bu il ta rt ai tio on ns , e2 t0 it1 i5 o, w Noe w 6i 1s h ft o 0i 2n 4f )or bm ey to wu et nha t M, sin Gc ro an sn ie mc t Ii no dn sw ti rt ih st h Le ma ir tb ei dt r (a Rti eo sn op nr do ec ne te )d i an ng ds the Company before the Court of the Civil Judge (Senior Division), Commercial Court, Bhubaneswar, the Hon'ble Commercial Court has passed an order. A copy of the said order is enclosed herewith. The Company is currently evaluating the financial impact of the aforesaid order on its operations in accordance with the applicable regulatory requirements. Please take the above on record. Thanking you. Yours faithfully, For Jayshree Chemicals Limited . Digitally signed ??1_#“,\ PuJa by Puja Guin ] . Date: 2026.08.05 Puja uja G Guin Guin 18:06:28 +05'30' Company Secretary & Compliance Officer ICSI Membership no.ACS:29481 Encl: As stated. Date of Application Date of Notifing Date of Delivery Requisites Date of Ready Date of Delivery 1724 Arbitration (P) No.61 of 2024 IN THE COURT OF CIVIL JUDGE (SENIOR DIVISION) (COMMERCIAL COURT), BHUBANESWAR. Present: Shri Ved Prakash (J.0. Code- OD-00509), Civil Judge (S.D.)(Commercial Court), Bhubaneswar. Dated, this the 03" day of August, 2026. Arbitration (P) No. 61 0f 2024 Jayshree Chemicals Limited, a company incorporated under the Companies Act, 1956/2013 having its registered office at 31, Chowringhee Road, Kolkata- 700016, West Bengal, India. Petitioner -Versus — Grasim Industries Limited, a company registered under the Companies Act, 1956 having its registered office at Birlagram, Nagda, Ujjain- 456331, Madhya Pradesh, Opposite Party India. Appearance or the Petitioner: Sri A. Pattnaik & hisAssociates. For the Opp. Party: Sri L.Pangari (Sr.Adv) & his Associates. Date of Argument: 17.06.2026 Date of Order : 03.08.2026 TRUE COP rintenten: sup:enten ;/E{t(/ 2/24 Arbitration (P) No.61 of 2024 ORDER This is an application U/s-34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred as ‘Act’) filed by the petitioner challenging the Arbitral Award dtd.12.042024 in Arbitration proceeding No. 54 of 2021 passed by the learned Arbitral Tribunal. The petitioner was the Respondent and the Opposite Party was the Claimant before the learned Arbitral Tribunal. 02. The brief facts of the present case is that the Petitioner is a company engaged inter alia in the business of trading of chemicals and generation of electricity and also had a caustic soda plant situated in the District of Ganjam, Odisha. Per contra, the Opposite Party is a company carrying on business of chemicals manufacturing. On 08.09.2014, the J7 .. . . ZPetitioner entered into a business transfer agreement \ \\“‘& rein after referred to as “BTA”) with Aditya Birla ,.Lghemicals India Ltd. (ABCIL) to transfer the “business fundertaking of the caustic soda plant at Ganjam” for a Jump sum consideration of Rs.212,00,00,000/-(Two Hundred Twelve Crores) and the said BTA was """" TRUE £OPY Superintendent LeveH JHC Arbitration (P) No.61 of 2024 completed on 21.09.2015. After closing of BTA, the ABCIL was dissolved in accordance with the order dtd.24.11.2015 of the Hon’ble High Court of Jharkhand and became a part of GIL/Opposite Party. Further, the Petitioner was directed by Odisha State Pollution Control Board (OSPCB) to deposit a sum of Rs.2,11,36,662/- (Rupees Two Crore Eleven Lakh Thirty Six Thousand Six Hundred Sixty Two only) as per the order dtd.01.05.2015 U/s.5 of the Environment Protection Act towards 60% of the Study costs relating to mercury contaminated site of the plant which was being operated by the Petitioner at Ganjam. The Petitioner instead of making such deposit has filed a writ petition bearing W.P.(C) No.12713 of 2015, wherein an interim order was passed directing the OSPCB and the Central Pollution Control Board, New Delhi not to take any coercive step against the Petitioner. The ABCIL was not a party to the said writ petition. Subsequently, the Opposite Party who had succeeded to ABCIL, was called upon by OSPCB to make such deposit and thereafter the Opposite Party was also called upon to undertake the remediation programme in respect of the contaminated site as per the detailed project report. Thereafter, the Opposite Party called upon the Petitioner to reimburse the amount deposited by the Opposite Party. However, the 4124 Arbitration (P) No.61 of 2024 Petitioner declined to make any payment and ultimately the above dispute was referred for adjudication before the learned Arbitrator. Before the learned Arbitral Tribunal, the Claimant has claimed Rs.2,11,36,662/- towards the amount deposited by him towards preliminary study for remediation and mercury contaminated site, Rs.28.70/- crores towards costs being incurred and likely to be incurred for remediation of the mercury contaminated site as per the detailed project report and Rs.13.70/- crores to be deposited in escrow account towards the possible cost of escalation and inflation in carrying out the remediation project. The Claimant has also claimed interest on the amount 0f Rs.2,11,36,662/- and for cost of the Arbitral proceeding. The learned Arbitral Tribunal has allowed the claim of Rs.2,11,36,662/- and Rs.28,69,65,000/- and rejected the claim of Rs.13.70/- crores. Further, the learned Arbitrator has also directed the respondent to pay a sum of Rs.25 Lakh to the claimant towards the cost of rbitration proceeding. Thereafter, the Petitioner approached this ?t Court by filing the present application with a prayer to set aside the impugned award on the ground that the learned Arbitrator has allowed the claim No.2 amount TRUE(&&EY Supe: mefiéég«: Leveld (£ Arbitration (P) No.61 of 2024 10 Rs.28.70/- Crores without any evidence for which it remains an adjudicated and such finding is patently illegal and perverse. Further, the learned Arbitrator has allowed the claims in ignorance of clause-13.3 of the agreement. Hence, the impugned award is liable to be set aside. 03. The Opposite Party/Claimant has filed its objection contending that the grounds taken by the Petitioner do not come under the purview of sec.34 of the Arbitration Act. Further, the learned Arbitrator has passed a reasoned award by giving adequate and appropriate reasons. The Opposite party has spent an amount of Rs.15,59,20,847/- on the remediation of the plant as per the detailed project report and the balance amount of Rs.13,10,44,154/- shall also be spent as the remediation is an ongoing process. Accordingly, the present petition is liable to be dismissed. 04. Section 34(2) of the Arbitration Act states that:- An arbitral award may be set aside by the Court only if-- (a) the party making the application establishes on the basis of the record of the arbitral tribunal that]-- (i).a party was under some incapacity, or (ii) the arbitration agreement is not valid under TRUE UZ ;/, . Level-l U o Arbitration (P) No.61 of 2024 the law to which the parties have subjected it or, failing any indication thereon, under the law for the time being in force; or (iii) the party making the application was not given proper notice of the appointment of an arbitrator or of the arbitral proceedings or was otherwise unable to present his case; or (iv) the arbitral award deals with a dispute not contemplated by or not falling within the terms of the submission to arbitration, or it contains decisions on matters beyond the scope. of the submission (o [Showing first 8,000 characters — download PDF for full document]