Oil India Limited ( oil india ) disclosed significant developments in two major tax litigations pending before the Hon'ble Supreme Court of India. The most material outcome is the resolution of a land tax dispute with the State of Assam, which had demanded approximately ₹2484.81 crores for the years 2005-2024. Conversely, a separate legal challenge concerning the applicability of Goods and Services Tax (GST) on royalty payments remains active, with new interim directives issued by the apex court.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The update follows previous filings, including an initial disclosure dated August 14, 2023, and subsequent quarterly Integrated Filings (Governance), the latest of which was filed on July 27, 2026, for the quarter ended June 30, 2026.

Resolution of Assam Land Tax Dispute

The dispute with the State of Assam originated from the Assam Taxation (on Specified Lands) (Amendment) Act, 2004. This amendment required oil producers to pay ₹200 per metric tonne for Crude Oil and ₹100 per thousand cubic meters for Natural Gas based on annual productivity. Oil India challenged this demand as ultra vires the Constitution of India. The matter was initiated in the Supreme Court on June 6, 2020 (T.C.(C) No. 232/2020).

As per the order dated July 29, 2026, the State of Assam informed the court of its intent to withdraw the specific land tax imposed on mineral oil. The state indicated it would move an appropriate bill in the State Legislature to formalize this withdrawal. Consequently, the Hon'ble Supreme Court disposed of Transferred Case (C) No. 232 of 2020, along with Writ Appeal No. 599/2005 pending before the Gauhati High Court. All pending interlocutory applications were also disposed of.

Status of GST on Royalty Litigation

The second major litigation concerns the levy of GST on royalty payments made under the Oil Fields (Regulation & Development) Act, 1948. Oil India contends that GST is not payable on such royalties, contrary to FAQs on Government Services issued by the CBIC. The company initially filed a writ petition in the Hon'ble Gauhati High Court, which granted an interim stay on GST payments in Assam on November 2, 2021.

Cases from the Gauhati and Rajasthan High Courts were transferred to the Supreme Court and admitted on February 3, 2024 (T.P.(C) No. 000300 - 000304/2024). In the order dated July 29, 2026, counsel for Oil India stated that the company would deposit GST as per law within six weeks. This deposit is subject to the final outcome of the proceedings. The petitions have been tagged with C.A. No. 10560/2025 (Udaipur Chamber of Commerce and Industry vs. Union of India).

What the Numbers Show

The resolution of the Assam land tax dispute removes a potential liability of approximately ₹2484.81 crores from Oil India’s balance sheet risks, provided the legislative withdrawal proceeds as stated. However, the interim direction to deposit GST on royalty payments within six weeks introduces a short-term cash outflow requirement, the magnitude of which depends on the company’s royalty payments during the relevant period. The final financial impact of the GST litigation will depend on the Supreme Court’s ultimate ruling on the constitutional validity of the levy under the Oil Fields Act.

Oil India Limited will host a conference call on Monday, August 10, 2026, at 13:00 hours (IST) to discuss its financial results for the first quarter of FY27. The event, organized by DAM Capital Advisors Ltd., aims to provide investors with insights into the company's performance for the period. This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The conference call is scheduled for the 'Investor Group' and will feature several senior management officials. Mr. Abhijit Majumder, Director (Finance), will lead the financial discussion, alongside Mr. Saloma Yomdo, Director (Exploration & Development), and Mr. Trailukya Borgohain, Director (Operations). Other participants include Mr. Bhaskar Jyoti Phukan, Managing Director of NRL, and Mr. Ajaya Kumar Sahoo, Executive Director (Company Secretary).

Conference Call Details

The call will be accessible via universal access numbers and international toll-free lines. Investors are advised to dial in at least 5-10 minutes prior to the scheduled time to ensure connection. The invite details are as follows:

Management Speakers

The following executives will participate in the discussion:

• Abhijit Majumder – Director (Finance)
• Saloma Yomdo – Director (Exploration & Development)
• Trailukya Borgohain – Director (Operations)
• Bhaskar Jyoti Phukan – MD, NRL
• Ajaya Kumar Sahoo – ED (Company Secretary)
• Raghunath Mishra – ED (BD)
• Abhijit Das – CGM (F&A)

International Access

Investors from various countries can join via toll-free numbers:

For further information, investors may contact Kishan Gopal Mundhra or Jainam Jain at DAM Capital Advisors Limited via phone at +91 22 4202 2506 / 2581 or email at kishan@damcapital.in / jainam@damcapital.in .