Tata Steel has secured an extension of interim relief from the Orissa High Court in two writ petitions challenging demand notices totalling ₹4,313.61 crore related to its Sukinda chromite block in Odisha.
The demands arise from alleged shortfalls in the dispatch of mineral and chrome ore during the fourth and fifth years of the Mine Development and Production Agreement. The first notice involves a demand of ₹1,902.72 crore, while the second pertains to a demand of ₹2,410.89 crore.
The High Court’s order restrains mining authorities from taking any coercive action against the company while the matters remain under consideration. The interim protection has been extended multiple times, providing continued relief to the steel major.
Despite the significant financial exposure, Tata Steel’s shares reacted positively to the development, gaining 2.75% to close at ₹183.30 on the BSE, indicating market confidence in the company’s legal position.
