The Orissa Minerals Development Company Limited has informed the Exchange regarding 'Review Petition Order'.
ORISSAMINE · price
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Awaiting price reaction for this filing.
The Supreme Court of India dismissed review petitions filed by OMDC and 3A Capitals Services Limited on 21.05.2025, finding no justifiable reason to reconsider its earlier judgment of 17.05.2024. As a result, the Odisha government's rejection of the Kolha-Roida mining lease renewal is confirmed and upheld. Additionally, OMDC's applications for renewal of the Thakurani and Dalki mining leases stand confirmed as rejected and dismissed. The company informed the exchanges about the order received on 03.06.2025. This is a major adverse outcome for OMDC, which is primarily a mining company dependent on these leases for its operations.
This is a significant negative development for OMDC shareholders. With three key mining leases (Kolha-Roida, Thakurani, and Dalki) now confirmed as rejected by the Supreme Court, the company's core revenue-generating iron ore mining operations face serious uncertainty. The stock is likely to come under selling pressure as the company's long-term business viability is now in question with no legal recourse remaining through review petitions.