JSW Steel secured relief from the High Court of Orissa, which quashed a demand of ₹696 crore related to the Jajang Iron Ore Block in Odisha. The court also set aside a separate demand of ₹1,472 crore, remitting that matter for fresh assessment.

The disclosure was made under Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The developments stem from two distinct writ petitions filed by the company challenging demands raised by state mining authorities for alleged shortfalls in mineral dispatch.

Quashing of ₹696 Crore Demand

In September 2021, the Office of Joint Director of Mines, Joda, issued a demand letter for ₹696.32 crore. This amount was levied under Rule 12-A of the Minerals Concession Rules, 2016, citing a shortfall in dispatch from the Jajang block during its first year of operation (June 27, 2020 to June 26, 2021).

JSW Steel challenged this via Writ Petition (Civil) No. 28232 of 2021. On October 16, 2026, the High Court disposed of the petition by applying the legal principles established in an earlier judgment dated April 20, 2026. Consequently, the company confirmed that the demand letter and its subsequent corrigendum stand quashed.

Remand of ₹1,472 Crore Demand

A second dispute arose from a demand letter issued on August 21, 2025, by the Office of Deputy Director of Mines, Joda. This notice sought ₹1,472.69 crore for a dispatch shortfall during the fifth year of the Mine Development and Production Agreement (June 27, 2024 to June 26, 2025).

The company filed Writ Petition (Civil) No. 23792 of 2025. In its October 16, 2026 order, the High Court set aside this demand letter. Unlike the first case, the court did not fully dispose of the matter but remitted it to the concerned authority to decide afresh, strictly adhering to the legal position enunciated in the April 2026 judgment.

What the Numbers Show

The two demands, totaling over ₹2,169 crore, highlight the financial exposure associated with regulatory assessments on mining output. The immediate quashing of the ₹696 crore liability removes a direct contingent risk. However, the remand of the larger ₹1,472 crore demand implies continued regulatory scrutiny. While the current demand is voided, the requirement for a fresh decision means the liability could potentially be reasserted if the authority’s new assessment aligns with the court’s interpreted legal framework.

JSW Steel noted that the delay in filing this disclosure was due to the time required to review the judgments.

JSW Steel recorded a block trade on the National Stock Exchange (NSE) worth ₹65.62 crore, involving approximately 5,63,126 shares executed at a price of ₹1,165.30 per share.

Block trade details

The following table summarises the key parameters of the transaction:

Block trades of this nature are typically large single transactions executed between institutional participants outside the regular order book, allowing for the transfer of a significant number of shares at a negotiated price.