Orissa High Court Quashes Rs 696.32 Crore Demand Against JSW Steel, Sets Aside Rs 1,472.69 Crore Demand:

JSW Steel Limited had received a demand letter, dated September 06, 2021, and a corrigendum dated September 7, 2021, from the Office of Joint Director of Mines, Joda, raising an aggregate demand amounting to Rs 696.32 crore on the company in relation to the assessment of the shortfall in dispatch of minerals from the company's Jajang Iron Ore Block (from June 27, 2020 to June 26, 2021) under Rule 12-A of the Minerals (Other than Atomic and Hydrocarbons Energy Minerals) Concession Rules, 2016 (‘MCR 2016’).

Subsequently, the company, being aggrieved by the demand letter, filed an appeal before the Honourable High Court of Orissa at Cuttack, challenging the same. The final judgement on this matter was delivered on October 16, 2026, wherein the court disposed of the Writ Petition in terms of the judgement dated April 20, 2026, rendered in WP(Civil) 31035 of 2025 and other batch matters. The court quashed the impugned demand letter dated September 6, 2021, read with the corrigendum dated September 7, 2021.

Thereafter, on August 21, 2025, the company received another demand letter, passed by the Office of Deputy Director of Mines, Joda. The letter raised an aggregate demand amounting to Rs 1472.69 crore on the company in connection with the assessment of the shortfall in dispatch of minerals from the company's Jajang Iron Ore Block for the 5th year in terms of the Mine Development and Production Agreement from June 27, 2024, to June 26, 2025, under Rule 12-A of the Minerals (Other than Atomic and Hydrocarbons Energy Minerals) Concession Rules, 2016 (‘MCR 2016’).

The company again challenged the same demand before the Honourable High Court of Orissa at Cuttack. The court, after analysing the facts of the case and hearing arguments from both sides, set aside the impugned demand letter and remanded the case back to the concerned authority for fresh adjudication in view of the judgement dated April 20, 2026, in WP(Civil) 31035 of 2025 and other batch matters. The final judgement on the matter was delivered on October 16, 2026.

The company explained that the delay in filing the disclosure before the stock exchanges (National Stock Exchange of India Limited and Bombay Stock Exchange Limited) was on account of the time taken by it to review the aforesaid judgements. The aforementioned disclosure has been made by the company vide an Intimation dated October 18, 2026, under Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.