New Delhi, February 13 The Jharkhand government has issued a demand notice of over Rs 929 crore to Hindustan Copper for allegedly producing without valid statutory clearances.
In a filing with the stock exchange, the company said the demand notice for recovery of compensation has been issued by the office of the 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 the Surda mine without valid statutory clearances or in excess of permissible limits..."
According to the notice received on February 12, the production took place from 2000-01 to 2016-17, thereby attracting liability under Section 21(5) of the Mines and Minerals (Development & Regulation) Act, 1957, as per the Common Cause judgement issued by the Supreme Court on the matter.
The company has denied the allegations and said it is taking legal action in this regard.
The impact on the company's financials, operations, or other activities will be limited to the extent of the final order, Hindustan Copper said.