Jasmine | May 30, 2026 |
Jharkhand Cuts Hindustan Copper’s Water Tax Liability by Over Rs 120 Crore; Company Seeks Penalty Waiver
Hindustan Copper Limited made a disclosure to NSE Ltd and BSE Ltd on 28 May 2026 for an event or information under Para 8 of Part B of Schedule III.
The company had asked the Water Resource Department, Ghatshila, Jharkhand, to review its earlier water tax demand of Rs 216 crore regarding the use of water from the Subarnrekha River.
After reviewing the company’s data and applicable water rates, the department has revised the total outstanding amount to around Rs 92.166 crore (water charges of Rs 46.623 crore and a penalty of Rs 45.543 crore) up to October 2025. This includes an outstanding amount from the year 2005 to October 2025 of Rs 87.926 crore and an outstanding amount from the year 2000-01 to 2005 of Rs 4.247 crore.
The revised estimate has been shared with Hindustan Copper Ltd for confirmation. The company is reviewing the calculations made by the Jharkhand Water Resource Department and will request a waiver of the Rs 45.54 crore penalty.
No settlement has been reached in the matter as of now. So the details regarding settlement terms, compensation or penalty paid, and financial impact on the company are not applicable at this stage.
The company made the above disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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