ESL Steel Limited, a subsidiary of Vedanta Limited, has received two Demand Notices from the office of the Deputy Director of Mines, Government of Odisha, on January 17, 2026. These notices, dated January 16, 2026, relate to an alleged shortfall in fulfilling Minimum Production and Dispatch Targets (MDPA Targets) for the fourth year of operation of two mining leases (BICO & Feegrade Mine) under the Mine Development & Production Agreement dated November 15, 2021.

The aggregate amount demanded is ₹12,55,37,61,591 (Rupees twelve hundred fifty-five crore, thirty-seven lakh, sixty-one thousand, five hundred and ninety-one) towards the alleged shortfall in production and dispatch for the relevant period.

ESL is currently evaluating the Demand Notices and their computations. The company believes the demands are not sustainable on merits and intends to pursue appropriate legal remedies, including seeking a stay over the Demand Notices and quashing of the impugned demands. This disclosure is made in compliance with Regulation 30 of the SEBI Listing Regulations.