Tata Steel faces demand letter over mineral dispatch shortfall
Tata Steel announced it has received a Demand Letter from the Office of Deputy Director of Mines, Jajpur, regarding a revised assessment of a mineral dispatch shortfall from the Company's Sukinda Chromite Block. The letter pertains to the fourth year of the Mine Development and Production Agreement, covering July 23, 2023, to July 22, 2024, alleging a violation of Minerals Concession Rules. The assessment has resulted in an aggregate demand of INR1902,72,53,760/-, which includes the sale value of the shortfall quantity and appropriation of performance security. Tata Steel stated that it believes the State's demands lack justification and plans to pursue legal remedies. The company made this disclosure in compliance with regulations set by the Securities and Exchange Board of India.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
News Alerts
Get instant email alerts when TATA STEEL publishes news
Free account required • Unsubscribe anytime