Birla Corporation Limited has informed the Exchange about Granting/withdrawal/surrender/cancellation/suspension of key licenses/ regulatory approvals
BIRLACORPN · price
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Awaiting price reaction for this filing.
The West Bengal government has enacted a new law (Revocation Act, 2025) that retrospectively cancels several state incentive schemes, including the one under which Birla Corporation was eligible for Industrial Promotion Assistance (IPA) for its Durga Hi-Tech Cement plant in Durgapur. The company had already secured a court order entitling it to ₹55.66 crore in sanctioned IPA, with another ₹138.58 crore in outstanding claims, putting roughly ₹194 crore in total at risk. Notably, Birla Corporation had previously won this case at the Calcutta High Court and even at the Supreme Court (which dismissed the state's appeal in September 2024). The company says it is examining all legal options and plans to challenge the retrospective validity of the new law.
Short-term negative for the stock as ~₹194 crore of receivables or expected inflows face uncertainty. However, the company has a strong legal track record in this matter, and any final loss depends on the outcome of its challenge to the retrospective legislation.