Orient Paper & Industries Limited — Others, 24-12-2024: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Orient Paper and Industries Limited has challenged the Tahasildar's directive for the resumption of 614.794 acres of leased land in Jharsuguda before the High Court of Orissa. The company contends that the resumption is illegal and based on incorrect legal grounds. While they are confident in a favorable outcome, if the court rules against them, they anticipate a financial impact of approximately ₹330 crores due to the land's book value. This legal action underlines the company's strategic focus on maintaining its operational assets, potentially reassuring investors about its commitment to safeguarding shareholder interests.