Stalemate on JSPL's Odisha iron ore continues; SC defers hearing

The Odisha government and JSPL have been in dispute over royalty payment for the iron ore for more than 5 years now

The Supreme Court on Tuesday deferred the hearing in the Sarda iron mines case. Shares of Delhi-based Jindal Steel & Power (JSPL) tumbled 12 per cent intraday Tuesday on reports after it emerged that the Supreme Court had refused to pass an interim order in the case.

“The honourable court has not given any decision on the Sarda case today. It has only deferred the hearing to January 17. Deferral does not mean refusal at all,” VR Sharma, managing director, JSPL told Business Standard today.

Shares of JSPL ended 6 per cent down from the previous close today on the Bombay Stock