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Tata Steel Challenges ₹1,132 Crore GST Tax and Penalty Order in Jharkhand High Court
Tata Steel has filed a Writ Petition in the Hon’ble High Court of Jharkhand to challenge a GST adjudication order. The order demands a tax payment of ₹493.35 crore and a penalty of ₹638.83 crore, totaling approximately ₹1,132.18 crore plus interest. The dispute involves the disallowance of Input Tax Credit for the period FY2018-19 to FY2022-23. The company believes it has a strong case on merits and that its previous submissions were not adequately considered by the tax authorities.
Key Highlights
Challenging a tax demand of ₹493.35 crore and a penalty of ₹638.83 crore
Total financial exposure exceeds ₹1,132 crore excluding applicable interest
Dispute relates to Input Tax Credit disallowance from FY2018-19 to FY2022-23
Writ Petition filed on March 11, 2026, seeking to quash the December 2025 order
Company had already paid ₹514.19 crore of the original ₹1,007.55 crore demand in normal course
💼 Action for Investors
Investors should monitor the High Court proceedings as a final adverse ruling could impact the company's cash flows. However, legal disputes of this nature are common for large-scale industrial operations and often take years to resolve.
Tata Steel Clarifies Cumulative ₹11,000 Crore Investment in Jharkhand Projects
Tata Steel has clarified that the reported ₹11,000 crore investment in Jharkhand is a cumulative figure representing several ongoing and previously approved capital expenditure projects. These projects include a 300 KTPA Tinplate expansion and a 0.5 MTPA Special Bar and Wire Rod-Combi Mill, both inherited through recent company amalgamations. The company is also evaluating new sustainability-linked projects involving HIsarna and EASyMelt technologies. Most of these details were already disclosed in previous annual reports and investor presentations, indicating no sudden change in capital allocation strategy.
Key Highlights
Clarified that the ₹11,000 crore figure is a cumulative total of multiple ongoing and previously approved projects.
Includes a 300 KTPA Tinplate expansion project and a 0.5 MTPA Special Bar and Wire Rod-Combi Mill.
Projects were originally initiated by amalgamated entities including Tinplate Company of India and Indian Steel and Wire Products.
Company is actively evaluating additional sustainability projects using advanced HIsarna and EASyMelt technologies.
Management confirmed that most project details were already available in the public domain via past integrated reports.
💼 Action for Investors
Investors should treat this as a routine clarification of existing capital expenditure plans rather than a new material development. Focus on the execution timelines of the Tinplate and Combi mill projects to gauge future volume growth.
Tata Steel Subsidiary NINL Receives ₹587.86 Cr Show Cause Notice from Odisha Mining Authority
Tata Steel's wholly owned subsidiary, Neelachal Ispat Nigam Limited (NINL), has been issued a Show Cause Notice by the Odisha Government for ₹587.86 crore. The demand pertains to alleged shortfalls in additional charges for iron ore dispatch from February 2022 to March 2025. NINL disputes the applicability of Section 8A(8) of the MMDR Act to its operations and plans to contest the notice legally. Currently, the company states there is no immediate impact on its financial or operational activities, though it remains a significant contingent liability.
Key Highlights
Demand of ₹587.86 crore raised by the Deputy Director of Mines, Koira Circle, Odisha.
Claim involves additional charges at 150% of royalty under the MMDR Amendment Act, 2021.
The dispute covers iron ore dispatches made over a three-year period from February 2022 to March 2025.
NINL maintains that the mine does not fall under the purview of the cited Section 8A(8) and the notice is erroneous.
Tata Steel intends to respond to the notice and pursue legal remedies if necessary.
💼 Action for Investors
Investors should monitor the progress of this legal dispute as an adverse final ruling could impact the subsidiary's profitability. No immediate action is required as the company is currently contesting the notice.
Tata Steel Subsidiary NINL Receives ₹587.86 Crore Show Cause Notice from Odisha Mining Authority
Tata Steel's wholly-owned subsidiary, Neelachal Ispat Nigam Limited (NINL), has received a Show Cause Notice from the Odisha Government's mining department. The notice demands ₹587.86 crore for alleged shortfalls in additional charges on iron ore dispatches between February 2022 and March 2025. The demand is based on Section 8A(8) of the MMDR Act, calculated at 150% of the royalty payable. NINL disputes the claim, stating its mine does not fall under the specified legal purview and intends to contest the notice legally.
Key Highlights
NINL received a Show Cause Notice for ₹587.86 crore from the Deputy Director of Mines, Koira Circle, Odisha.
The claim pertains to additional charges on iron ore dispatch for the period February 2022 to March 2025.
The demand is calculated at 150% of royalty payable under Section 8A(8) of the MMDR Act.
Tata Steel maintains that NINL's mine is not subject to the specific provisions cited in the notice.
The company intends to pursue legal remedies if necessary and currently sees no immediate operational impact.
💼 Action for Investors
Investors should monitor the legal outcome of this dispute as a ₹587.86 crore liability could impact the subsidiary's valuation. No immediate action is required as the company is actively contesting the claim.
Tata Steel Completes Sale of Jajpur Ferro Alloy Plant for ₹610 Crore
Tata Steel Limited has successfully finalized the divestment of its Ferro Alloy Plant located in Jajpur, Odisha, to Indian Metals & Ferro Alloys Ltd (IMFA). The transaction was completed on February 27, 2026, for a base consideration of ₹610 crore, excluding working capital and net of GST. This sale follows the initial Asset Transfer Agreement signed in November 2025 and has received all necessary regulatory approvals. The move aligns with the company's strategy to optimize its asset portfolio and focus on core operations.
Key Highlights
Successfully completed the sale of the Jajpur Ferro Alloy Plant to Indian Metals & Ferro Alloys Ltd.
Received a base consideration of ₹610 crore, net of GST and excluding working capital.
The transaction follows through on the initial agreement dated November 4, 2025.
All necessary regulatory approvals have been obtained for the asset transfer.
💼 Action for Investors
Investors should view this as a positive step in Tata Steel's capital allocation strategy to unlock value from non-core assets. The cash inflow will likely be used for debt reduction or funding ongoing capacity expansions in its primary steel business.
Tata Steel Invests ₹2,401.50 Crore in Subsidiary T Steel Holdings Pte. Ltd
Tata Steel has completed a fresh capital infusion of USD 264 million (approximately ₹2,401.50 crore) into its wholly-owned foreign subsidiary, T Steel Holdings Pte. Ltd (TSHP). The company acquired 261.90 crore equity shares at a face value of USD 0.1008 per share. This transaction is part of a series of fund infusions previously disclosed throughout 2025 and 2026 to support international operations. TSHP will continue to be a 100% subsidiary of Tata Steel post-acquisition.
Key Highlights
Acquired 2,61,90,47,620 equity shares in T Steel Holdings Pte. Ltd.
Total investment value of USD 264 million (₹2,401.50 crore) at ₹90.9661 per USD.
Investment made at a face value of USD 0.1008 per equity share.
This is the ninth such fund infusion disclosure made by the company since May 2025.
TSHP remains a wholly-owned foreign subsidiary of Tata Steel Limited.
💼 Action for Investors
Investors should monitor the impact of these capital infusions on the company's consolidated debt and the turnaround of European operations. No immediate action is required as this is a planned intra-group capital allocation.
Tata Steel 3QFY26: India Deliveries Cross 6MT Milestone; Net Debt Reduced by Rs 5,200 Crores
Tata Steel delivered a resilient 3QFY2026 performance with consolidated EBITDA at Rs 8,309 crores and a 15% margin, supported by a massive cost transformation program that saved Rs 8,600 crores in the first nine months. India operations remain the primary driver, with quarterly deliveries exceeding 6 million tons for the first time and an EBITDA margin of 23%. Financial health improved as net debt decreased by Rs 5,200 crores sequentially to Rs 81,834 crores, keeping the net debt-to-EBITDA ratio at a comfortable 2.6x. While European operations face headwinds from US tariffs and carbon costs, the implementation of CBAM is expected to provide a structural advantage moving forward.
Key Highlights
India crude steel production rose 12% YoY to 6.34 million tons, with deliveries surpassing 6 million tons for the first time in a single quarter.
Consolidated EBITDA for 9M FY2026 grew 31% YoY to Rs 24,894 crores, with margins expanding by 300 basis points to 15%.
Cost transformation initiatives delivered Rs 3,000 crores in savings during Q3, totaling Rs 8,600 crores for the nine-month period.
Net debt reduced to Rs 81,834 crores, down from Rs 87,034 crores in the previous quarter, aided by strong free cash flow of Rs 7,054 crores.
Netherlands operations were impacted by 50% US tariffs and €150 million in emission costs, though underlying EBITDA remains positive.
💼 Action for Investors
Investors should view the strong volume growth and debt reduction in India as a sign of operational strength despite global pricing volatility. Monitor the European transition to Electric Arc Furnaces and the impact of CBAM on margins as key long-term triggers.
Tata Steel Q3 FY26: EBITDA Up 39% YoY to Rs 8,309 Cr; Net Debt Falls by Rs 5,206 Cr
Tata Steel reported a consolidated EBITDA of Rs 8,309 crores for Q3 FY26, a 39% increase YoY, driven by strong India operations. India deliveries reached a record 6.04 million tons, while the company reduced its net debt by Rs 5,206 crores to Rs 81,834 crores. European operations showed mixed results, with the Netherlands improving significantly while the UK remained in a loss, albeit a narrowing one. The company continues to prioritize India expansion with a capex of Rs 3,291 crores during the quarter.
Key Highlights
Consolidated EBITDA rose 39% YoY to Rs 8,309 crores; 9M FY26 EBITDA up 31% to Rs 24,894 crores
India business achieved record quarterly deliveries of 6.04 million tons, up 14% YoY
Net debt reduced by Rs 5,206 crores during the quarter to Rs 81,834 crores
Netherlands EBITDA for 9M FY26 nearly tripled YoY to €210 million
UK EBITDA loss improved by 44% YoY to £170 million for the nine-month period
💼 Action for Investors
The stock remains a strong play on Indian infrastructure growth given record domestic volumes and improving leverage. Investors should monitor the turnaround progress in European operations and the impact of global steel prices on margins.
Tata Steel Q3FY26: Consolidated EBITDA at Rs 8,309 Cr; India Deliveries Hit Record 6.04 MT
Tata Steel reported a consolidated EBITDA of Rs 8,309 crores for Q3FY26, marking a 39% YoY improvement despite global headwinds. The India business remains the primary growth engine with a 23% EBITDA margin and record quarterly deliveries of 6.04 million tons. Notably, the company reduced its net debt by Rs 5,206 crores during the quarter to Rs 81,834 crores. While the Netherlands operations are EBITDA positive at €55 million, the UK business continues to face challenges with an EBITDA loss of £63 million.
Key Highlights
Consolidated EBITDA grew 39% YoY to Rs 8,309 crores with a margin of approximately 15%.
India operations achieved best-ever quarterly deliveries of 6.04 million tons, up 14% YoY.
Net debt reduced by Rs 5,206 crores in Q3 to Rs 81,834 crores; group liquidity stands at Rs 44,062 crores.
Cost transformation program delivered savings of Rs 3,000 crores in Q3 and Rs 8,600 crores in 9MFY26.
Automotive volumes grew 20% YoY, while e-commerce GMV reached Rs 2,380 crores, up 68% YoY.
💼 Action for Investors
Investors should view the strong domestic volume growth and significant debt reduction as key positives for the stock. While European operations remain a drag, the robust 23% EBITDA margin in India and successful cost-saving initiatives provide a solid cushion.
Tata Steel Board Approves Q3 FY26 Financial Results; Standalone Audit Completed
Tata Steel's Board of Directors met on February 6, 2026, to approve the financial results for the quarter and nine months ended December 31, 2025. The company submitted audited standalone and unaudited consolidated results as per SEBI Listing Regulations. The independent auditor, Price Waterhouse & Co, issued a clean report for the standalone financials, confirming a true and fair view of the company's performance. While the specific profit and revenue figures were not detailed in the provided cover letter, the filing confirms the completion of the quarterly review process.
Key Highlights
Board approved financial results for the quarter and nine-month period ended December 31, 2025.
Independent Auditor Price Waterhouse & Co provided a clean audit opinion on the standalone financial results.
The Board meeting was conducted between 1:30 p.m. and 4:15 p.m. IST on February 6, 2026.
Results were prepared in compliance with Regulation 33 and 52 of the SEBI Listing Regulations and Ind AS 34.
💼 Action for Investors
Investors should review the full financial tables in the annexures to analyze revenue growth and EBITDA margins. Particular attention should be paid to the consolidated performance to assess the impact of international operations.
Tata Steel's ₹4,313 Cr Mining Dispute: Orissa HC Reserves Judgment, Extends Interim Protection
Tata Steel is contesting two major demand notices totaling approximately ₹4,313.63 crore related to alleged mineral dispatch shortfalls at its Sukinda Chromite Block. The first demand of ₹1,902.73 crore pertains to the 4th year of the mining agreement, while the second demand of ₹2,410.90 crore relates to the 5th year. The Orissa High Court has concluded hearings for both writ petitions and has reserved its final judgment. Crucially, the court has extended interim protection against coercive action by authorities until the judgment is delivered.
Key Highlights
Total demand of ₹4,313.63 crore raised by the Deputy Director of Mines, Jajpur, for alleged dispatch shortfalls.
Demand 1 involves ₹1,902.73 crore for the period July 23, 2023, to July 22, 2024.
Demand 2 involves ₹2,410.90 crore for the period July 23, 2024, to July 22, 2025.
Orissa High Court has reserved the judgment after concluding hearings on February 2, 2026.
Interim protection from coercive action remains in place until the final verdict is announced.
💼 Action for Investors
Investors should closely monitor the final judgment from the Orissa High Court as an adverse ruling could impact the company's cash flows significantly. The current extension of interim protection is a temporary relief but the final verdict remains a key risk factor.
Tata Steel Infuses ₹5,754.67 Crore into Subsidiary T Steel Holdings Pte. Ltd
Tata Steel Limited has completed a significant capital infusion of USD 625.75 million (approximately ₹5,754.67 crore) into its wholly-owned foreign subsidiary, T Steel Holdings Pte. Ltd (TSHP). The company acquired 6,20,78,37,302 equity shares at a face value of USD 0.1008 each. This transaction is part of a series of planned fund infusions previously disclosed throughout 2025. TSHP will continue to operate as a 100% subsidiary, with the investment likely aimed at supporting international operations or debt obligations.
Key Highlights
Acquisition of 6,20,78,37,302 equity shares in T Steel Holdings Pte. Ltd.
Total investment amount equals USD 625.75 million or ₹5,754.67 crore.
TSHP remains a 100% wholly owned foreign subsidiary post-acquisition.
Transaction based on an exchange rate of ₹91.9644 per USD as of January 29, 2026.
This is the eighth disclosure regarding fund infusions into TSHP since May 2025.
💼 Action for Investors
Investors should view this as a routine capital allocation to support overseas subsidiaries. Monitor future earnings reports for clarity on how this capital is being utilized to improve the performance of international assets.
Tata Steel Completes 50.01% Stake Acquisition in Thriveni Pellets for ₹635.13 Crore
Tata Steel has finalized the acquisition of a 50.01% majority stake in Thriveni Pellets Private Limited (TPPL) for a cash consideration of ₹635.13 crore. This acquisition, completed on January 30, 2026, follows the receipt of necessary approval from the Competition Commission of India. Through this deal, Tata Steel also gains an indirect 50.01% stake in Brahmani River Pellets Private Limited (BRPL), which is a 100% subsidiary of TPPL. Both TPPL and BRPL have now become subsidiaries of Tata Steel, while Lloyds Metals & Energy Limited retains the remaining 49.99% stake.
Key Highlights
Acquired 90,06,801 equity shares representing a 50.01% controlling stake in TPPL
Total cash consideration for the acquisition stands at ₹635.13 crore
Gained indirect 50.01% ownership of Brahmani River Pellets Private Limited (BRPL)
Transaction completed following CCI approval received on January 20, 2026
TPPL and BRPL have officially become subsidiaries of Tata Steel Limited
💼 Action for Investors
Investors should view this as a strategic move for backward integration that secures pellet supply for Tata Steel's operations. Monitor the impact on raw material cost efficiencies in upcoming quarterly reports.
Tata Steel Gets Interim Relief in ₹4,313 Crore Mining Demand Case; Next Hearing Feb 2, 2026
Tata Steel is contesting two significant demand letters totaling approximately ₹4,313.63 crore issued by the Deputy Director of Mines, Jajpur, regarding its Sukinda Chromite Block. The demands relate to alleged shortfalls in mineral dispatch for the 4th and 5th years of the mining agreement, citing violations of the Minerals Concession Rules, 2016. The Orissa High Court has extended interim protection, restraining authorities from taking coercive action against the company until the next hearing on February 2, 2026. This ongoing litigation represents a substantial contingent liability that investors should monitor closely.
Key Highlights
Total demand of ₹4,313.63 crore across two notices for the Sukinda Chromite Block
Demand 1: ₹1,902.73 crore for alleged dispatch shortfall between July 2023 and July 2024
Demand 2: ₹2,410.90 crore for alleged dispatch shortfall between July 2024 and July 2025
Orissa High Court extended interim protection from coercive action until February 2, 2026
The dispute involves alleged violations of Rule 12-A of the Minerals Concession Rules, 2016
💼 Action for Investors
Investors should track the February 2, 2026 hearing as any adverse final ruling could impact the company's cash flows and performance security. The current interim stay is a temporary positive, but the large scale of the demand warrants a cautious watch.
Tata Steel Gets Interim Relief in ₹4,314 Crore Mining Demand Case; Next Hearing Jan 29
Tata Steel is contesting two major demand notices totaling approximately ₹4,314 crore from the Deputy Director of Mines, Jajpur, related to alleged shortfalls in mineral dispatch at its Sukinda Chromite Block. The demands include ₹1,902.73 crore for the fourth year and ₹2,410.90 crore for the fifth year of the mining agreement. The Orissa High Court has provided interim protection, restraining authorities from taking coercive action or appropriating performance security. This protection has now been extended until the next hearing scheduled for January 29, 2026.
Key Highlights
Total demand of ₹4,313.63 crore raised by the Deputy Director of Mines, Jajpur, for alleged dispatch shortfalls.
Demand 1 of ₹1,902.73 crore pertains to the period July 23, 2023, through July 22, 2024.
Demand 2 of ₹2,410.90 crore pertains to the period July 23, 2024, through July 22, 2025.
Orissa High Court extended interim protection against coercive action until the next hearing on January 29, 2026.
The dispute involves alleged violations of Rule 12-A of the Minerals Concession Rules, 2016.
💼 Action for Investors
Investors should monitor the outcome of the January 29 hearing as the total demand is financially significant. While the interim stay is a temporary relief, the final court ruling will determine if the company needs to make substantial provisions.
Tata Steel Gets Interim Relief in ₹4,313 Crore Mining Demand Case
Tata Steel has received a further extension of interim protection from the Orissa High Court regarding two significant mining demands totaling approximately ₹4,313.63 crore. The demands, issued by the Deputy Director of Mines, Jajpur, relate to alleged shortfalls in mineral dispatches from the Sukinda Chromite Block for the 4th and 5th years of the Mine Development and Production Agreement. The first demand amounts to ₹1,902.73 crore, while the second demand is for ₹2,410.90 crore. The High Court has restrained authorities from taking coercive action until the next hearing scheduled for January 19, 2026.
Key Highlights
Total demand of ₹4,313.63 crore raised by the Deputy Director of Mines, Jajpur
Demand 1 of ₹1,902.73 crore concerns the period July 2023 to July 2024
Demand 2 of ₹2,410.90 crore concerns the period July 2024 to July 2025
Orissa High Court extended interim protection against coercive action until January 19, 2026
Alleged violations pertain to Rule 12-A of the Minerals Concession Rules, 2016
💼 Action for Investors
Investors should monitor the outcome of the next hearing on January 19, 2026, as the total demand represents a significant contingent liability. No immediate action is required while the matter remains sub-judice and interim relief is in place.
Tata Steel India Achieves Record 6.34 MT Production and 6.04 MT Deliveries in 3QFY26
Tata Steel India reported its best-ever quarterly performance for 3QFY26, with crude steel production reaching 6.34 million tons, a 12% increase both YoY and QoQ. Domestic deliveries crossed the 6 million ton milestone for the first time, supported by a 20% YoY growth in the Automotive & Special Products segment. While Indian operations showed robust growth, European operations faced seasonal headwinds, with Netherlands deliveries declining sequentially to 1.40 million tons. The company's e-commerce platforms also saw significant traction, with GMV rising 68% YoY to Rs 2,380 crores.
Key Highlights
Tata Steel India achieved record quarterly crude steel production of 6.34 MT, up 12% YoY and QoQ.
Domestic deliveries crossed 6 MT for the first time, growing 14% YoY, led by the Automotive segment (up 20% YoY).
Branded Products & Retail vertical surpassed 2 million tons in quarterly volumes for the first time, up 12% YoY.
E-commerce GMV from Tata Steel Aashiyana and DigECA surged 68% YoY to Rs 2,380 crores.
European operations remained subdued with Netherlands deliveries at 1.40 MT and UK at 0.52 MT due to seasonal factors.
💼 Action for Investors
Investors should view the record Indian volumes as a strong lead indicator for the upcoming 3QFY26 financial results. The focus should now shift to the margin trajectory to see if volume growth offsets the seasonal softness in European operations.
Tata Steel completes ₹1,099.97 Cr acquisition to hike stake in Tata BlueScope Steel to 99.99%
Tata Steel Limited has successfully completed the acquisition of a significant stake in its joint venture, Tata BlueScope Steel Private Limited (TBSPL). The company acquired 43,29,90,000 equity shares from BlueScope Steel Asia Holdings for a total consideration of ₹1,099.97 crore. Following this transaction, Tata Steel's direct and indirect holding in TBSPL has increased from 50% to 99.99%. This move effectively turns the joint venture into an indirect subsidiary, allowing for full operational control and financial consolidation.
Key Highlights
Acquired 43,29,90,000 equity shares of face value ₹10 each in TBSPL
Total cash consideration for the acquisition stands at ₹1,099.97 crore
Tata Steel's ownership in TBSPL increased from a 50:50 JV to 99.99%
TBSPL has now become an indirect subsidiary of Tata Steel Limited
Transaction completed on December 31, 2025, following the SPA signed in November
💼 Action for Investors
Investors should view this consolidation as a positive step toward streamlining the value-added steel portfolio. Monitor the impact on consolidated margins as the company integrates TBSPL's financials fully.
Tata Steel receives ₹1,781 Crore GST tax and penalty order; to contest demand
Tata Steel has received an order from the CGST & Central Excise authorities demanding a tax payment of ₹890.52 crore along with an equivalent penalty of ₹890.52 crore for the period FY2018-19 to FY2020-21. The dispute centers on alleged irregular Input Tax Credit (ITC) claims, which the company attributes to timing differences allowed under GST laws. The total financial implication exceeds ₹1,781 crore plus interest. Tata Steel intends to challenge the order before an appropriate forum and believes it has a strong case on merits.
Key Highlights
Tax demand of ₹890.52 crore for alleged irregular ITC availment between FY19 and FY21
Penalty of ₹890.52 crore imposed, bringing the total demand to over ₹1,781 crore excluding interest
Company maintains that the discrepancy is due to ITC timing differences permissible under GST law
Tata Steel will contest the order legally and expects no immediate impact on operations
💼 Action for Investors
Monitor the legal proceedings as the demand amount is significant, though such tax disputes are common in the industry and often involve long-term litigation. No immediate change in investment thesis is required unless the appeal is rejected at higher levels.
Tata Steel Subsidiaries Face EUR 1.4 Billion Class Action Lawsuit in Netherlands
Tata Steel's Dutch subsidiaries, TSN, have been served a writ of summons for a collective action seeking approximately EUR 1.4 billion (approx. ₹12,800 crore) in compensation. The lawsuit, filed by Stichting Frisse Wind.nu, alleges health damages and property value losses due to emissions from the IJmuiden plant. The legal proceedings under the Dutch WAMCA regime are expected to be lengthy, with two phases each taking 2-3 years to conclude. Tata Steel intends to vehemently defend the claim, labeling it as speculative and unsubstantiated while highlighting its ongoing environmental investments.
Key Highlights
Claimants seek EUR 1.4 billion in compensation for alleged health issues and loss of home enjoyment.
The litigation involves two phases, admissibility and merits, each expected to take 2-3 years.
The class action is backed by third-party funders Redbreast Associates N.V. and Omni Bridgeway S.A.
Tata Steel asserts that the claim lacks merit and highlights its Roadmap+ and Green Steel Plan investments.
No immediate financial impact is expected as the debate on quantum is years away.
💼 Action for Investors
Investors should treat this as a long-term contingent liability; while the quantum is significant, the 4-6 year legal timeline suggests no immediate impact on cash flows. Monitor the admissibility phase results in the coming years.