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On September 17, 2026, the Hon'ble High Court of Calcutta heard Tata Steel Limited's interim application (IA no. GA/2/2026) seeking an injunction on the Joint Plant Committee (JPC) utilizing a ₹2,970 crore fund. The High Court disposed of this application with a direction, issued in an order dated September 17, 2026 and received on September 18, 2026, that the fund shall not be utilised or disbursed to third parties until the related appeal is disposed of.
| Date | 18 Sept 2026 |
| Time | 17:08:24 |
| Category | Miscellaneous |
| ID | 4540V |
Ref: SEC/1069/2026-27
September 18, 2026
London Stock Exchange
London
Dear Madam, Sirs,
Sub: Disclosure under Regulations 30 read with 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
This is further to our disclosures dated April 2, 2024 and May 24, 2024 on the abovementioned subject read with 'material litigation' section of the Board's Report of Tata Steel Limited ('Company') and notes to financial statements, both forming part of the 11th Integrated Report and 118th Annual Accounts of the Company for FY2025-26, in connection with loans obligations of the Company arising from Steel Development Fund ('SDF').
Background:
On April 2, 2024, the Company filed a writ petition before the Hon'ble High Court of Calcutta ('Hon'ble High Court'), in the matter of rejection of a representation made by the Company in respect of waiver of loans availed by the Company from SDF (in parity with SAIL), managed by Joint Plant Committee ('JPC'), Ministry of Steel. The matter was heard by the Hon'ble High Court over several hearings.
On May 24, 2024, the Hon'ble High Court (Single Bench) dismissed the writ petition filed by the Company, with a liberty to the Company to approach the JPC. The Company sought further legal remedies and filed an appeal against this order before the Hon'ble High Court of Calcutta (Division Bench). This appeal is pending before the Hon'ble High Court of Calcutta.
On January 17, 2025, the Company received a demand from the Ministry of Steel to make payment towards outstanding balance of SDF loan. During FY2026, the Company discharged its liability towards JPC aggregating to ₹2,970 crore, without prejudice to its rights and contentions in the appeal.
Present Status:
The Management believed that an interim protection was necessary to safeguard the amounts deposited by the Company with JPC. Accordingly, the Company filed an Interim Application bearing IA no. GA/2/2026 before the Hon'ble High Court of Calcutta seeking injunction on JPC utilizing the said amount of ₹2,970 crore.
The IA NO. GA/2/2026 was heard by the Hon'ble High Court of Calcutta on September 17, 2026.
As per the order of the Hon'ble High Court of Calcutta dated September 17, 2026 received by the Company today i.e. September 18, 2026, Hon'ble High Court has disposed of the interim application with the direction that till the appeal is disposed of, the fund shall not be utilised or disbursed to third parties.
This disclosure is being made by the Company in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This is for your information and records.