Orissa Minerals Development Company has clarified the timeline for its delayed disclosure of Arun Kanti Bagchi’s resignation as a non-executive director. The company informed the Bombay Stock Exchange that it received the resignation letter on September 4, 2026, and filed the disclosure on September 8, 2026.

The clarification follows a communication from the exchange seeking details on the delay in submitting the cessation notice under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In its response dated September 10, 2026, OMDC expressed regret for the lapse and reaffirmed its commitment to timely compliance with regulatory norms.

Resignation Timeline

Bagchi stepped down from the board effective August 31, 2026, following his superannuation from Rashtriya Ispat Nigam Limited (RINL), where he served as Director (Projects). His exit ended his dual role at both government enterprises.

Company Secretary Pintu Kumar Biswal confirmed the earlier cessation in a letter dated September 8, 2026. The subsequent clarification was also signed by Biswal, addressing the specific query raised by the BSE compliance department regarding the gap between the effective date and the filing date.

Board Composition Update

The resignation reduces the number of non-executive directors on the board. No immediate replacement was announced in the initial filing. The company noted that the change is due to resignation rather than appointment or removal for cause. Bagchi’s DIN (Director Identification Number) is 09835584.

Orissa Minerals Development Comp has secured a critical regulatory milestone with the Expert Appraisal Committee (EAC) recommending Environment Clearance (EC) for its Belkundi Iron & Manganese Ore Mine. The clearance, recommended on July 17, 2026, permits production capacities of 1.8 million tonnes per annum (MTPA) for iron ore and 0.3 MTPA for manganese ore. This approval unlocks the operational potential of the mine in Odisha’s Keonjhar district, subject to specific compliance conditions regarding lease validity and pending legal matters.

Regulatory Approval Details

The recommendation was made during the 9th meeting of the reconstituted Expert Appraisal Committee (Non-Coal Mining), held under the Ministry of Environment, Forest and Climate Change (MoEF&CC). The proposal, identified by number IA/OR/MIN/497426/2024, covers a total area of 1,276.79 hectares as per Record of Rights (RoR). However, mining activities are restricted to an area of 965.423 hectares.

The EAC’s recommendation is contingent upon several key conditions. The company must ensure its mining lease remains valid beyond August 15, 2026. Failure to obtain this extension will require the proponent to restart the entire EC process de novo. Additionally, the final order of the Hon’ble Supreme Court in W.P. 1394/2023 titled Vanashakti vs. Union of India must be awaited before full implementation.

Operational and Compliance Conditions

The clearance includes strict operational guidelines to mitigate environmental impact. No blasting is permitted within 500 meters of railway sidings without prior approval. The balance area of 311.367 hectares, which comprises forest land for which Forest Clearance (FC) is yet to be obtained, must be physically demarcated with boundary pillars or fencing. No activity can commence in this restricted zone until all statutory approvals are secured.

Furthermore, the committee mandated the implementation of Damage Remediation, Natural Resource Augmentation, and Community Resource Augmentation Plans within three years of the EC grant. A bank guarantee of ₹4.81 crore must be submitted to the Odisha Pollution Control Board to secure these commitments. The company also needs to upload written submissions on the PARIVESH portal and confirm the execution of the bank guarantee with the competent authority.

What the Numbers Show

The approved capacity of 1.8 MTPA for iron ore and 0.3 MTPA for manganese ore positions the Belkundi mine as a significant contributor to Orissa Minerals Development Comp ’s output portfolio. The restriction of mining to 965.423 hectares out of the total 1,276.79 hectares indicates a phased approach to resource extraction, likely tied to environmental safeguards and pending forest clearances. The requirement for a ₹4.81 crore bank guarantee underscores the regulatory emphasis on post-mining rehabilitation and community support, ensuring that operational expansion is balanced with long-term environmental and social responsibility.