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Informist, Wednesday, Oct. 29, 2025

 

NEW DELHI – Tata Steel Ltd. Wednesday moved the Odisha High Court seeking quashing of the INR 24.11 billion demand issued by the office of Deputy Director of Mines of the Odisha government for alleged shortfall in mineral dispatch, the company said in an exchange filing. The company has also challenged the appropriation of its performance security and has included the state of Odisha, the Ministry of Mines, the Director of Mines, Odisha, and the Deputy Director of Mines, Jajpur, Odisha, as respondents to the plea.

 

On Oct. 3, Tata Steel had received a demand letter from the office of the Deputy Director of Mines in Jajpur in connection with the assessment of a shortfall in dispatch of chrome ore from its Sukinda Chromite Block, for the fifth year in terms of the Mine Development and Production agreement. The alleged shortfall in mineral dispatch resulted in an aggregate demand of INR 24.11 billion, based on the sale value of the shortfall quantity and the appropriation of the performance security, Tata Steel said.

 

For the June quarter, Tata Steel reported a consolidated net profit of INR 20.78 billion on revenue of INR 531.78 billion. Wednesday, shares of Tata Steel ended 1.9% higher at INR 185.19 on the National Stock Exchange.  End

 

Reported by Surya Tripathi

Edited by Saji George Titus

 

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