Tata Steel gets stay on ₹1,755cr Jharkhand demand notice
Business
Tata Steel just got a breather after a ₹1,755 crore demand notice from Jharkhand's mining office was put on hold.
The notice claimed the company mined way more coal than allowed at its West Bokaro site during FY01 to FY07.
Thanks to the stay order, Tata Steel won't face any immediate action while the case gets a closer look.
Tata Steel petition under review
Tata Steel challenged the demand and its petition is now officially under review.
While this gives it some temporary relief, investors didn't seem too reassured.
Tata Steel's shares were down 1% at ₹184 on Tuesday after the news broke.