MOIL Limited has received a short recovery letter for water taxes, amounting to ₹16,08,16,712, for the period of April 2008 to September 2025. This demand includes 24% interest and 1% service charges, stemming from a CAG audit. The company is currently examining the demand letter and plans to take appropriate legal steps, including filing an appeal, as it does not foresee an immediate operational impact.
MOIL Limited Receives Water Tax Demand
MOIL Limited has announced the receipt of a short recovery letter concerning water taxes. The demand, issued by the Executive Engineer, Wainganga Division, Balaghat, totals ₹16,08,16,712. This amount pertains to the period from April 2008 to September 2025 and includes a significant component of 24% interest and 1% service charges. The demand is based on findings from a CAG audit para related to the Wainganga Division, Balaghat.
Company’s Response and Next Steps
MOIL Limited has stated that this demand does not have any immediate operational impact on the company. The management is currently in the process of thoroughly examining the demand letter. Following this review, the company intends to take appropriate legal steps, which may include filing an appeal within the stipulated timeframe. The intimation was made pursuant to regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source: BSE
