New Delhi: The Jharkhand Government has issued a demand notice of over Rs 929 crore to Hindustan Copper for allegedly producing without valid statutory clearances.
In an exchange filing, the company said the demand notice for recovery of compensation has been issued by the office of District Mining Office (DMO), East Singhbhum, Jamshedpur, under the Department of Mines and Geology, Government of Jharkhand.
Sharing details, the company said "the demand notice for recovery of compensation amount of Rs 929,40, 06, 242 has been issued by the DMO, Jamshedpur alleging production from Surda mine without valid statutory clearances or in excess of permissible limits..."
As per the notice received on February 12, the production happened during 2000-01 to 2016-17, thereby attracting liability under Section 21(5) of the Mines and Minerals (Development & Regulation) Act, 1957 as per Common Cause judgement issued by the Supreme Court on the matter.
The company has denied the allegations and said it is taking legal actions in this regard.
The impact on financials, operations or other activities of the company will be limited to the extent of the final order, Hindustan Copper said.
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