Usha Martin Limited — Others, 06-03-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Usha Martin has announced a board meeting regarding a favorable ruling from the Hon’ble High Court of Jharkhand, which set aside a demand for Rs. 28.47 crore related to excess iron ore production for 2006-2008. The court directed the Jharkhand State Government to refund Rs. 19.38 crore, which the company had deposited under protest in 2018-19, along with 7% interest. This outcome alleviates a significant financial liability and can enhance investor sentiment towards the company, reflecting a positive outlook as the firm seeks the refund and stabilizes its financial standing.