business βοΈ Supreme Court questions Tata Steel's mineral debt
The Supreme Court has issued a notice to Tata Steel regarding Odisha's demand for Rs 4,313 crore. This notice stems from an appeal against the Orissa High Court's decision to quash the state's mineral shortfall notices. The demands were initially raised for the fourth and fifth lease years after Tata Steel acquired the Sukinda Chromite Block in 2020. Tata Steel argued that regulatory approvals allowed for lower production, making the original dispatch targets unachievable. The case will now see the Supreme Court decide on the validity of the Rs 4,313-crore demand. π§