Friday, 08 Jul 2011
The Hindu reported that JSW Steel on Wednesday withdrew its petition seeking direction to the Karnataka government for allotting captive iron ore mines for its steel plant in the state after the Supreme Court refused to entertain its plea.
A bench comprising Justices Mr VS Sirpurkar and Mr TS Thakur declined to entertain the plea of JSW Steel to direct the Karnataka government to lease a captive mine for steel plant at Vijaynagar in the State.
The bench said that “We cannot enlarge the scope of the petition and direct some one to surrender its lease or give lease to some one.”
The apex court was also not convinced by the submission of the company that it made an investment of INR 10,000 crore by setting a steel plant on the assurances of the state government that a captive mine would be allotted to it.
The bench said that “JSW are not an unknown villager, who would invest such a large sum on promises only.”
However, it gave liberty to the company to approach the Karnataka High Court if it feels that the state government has not fulfilled obligation under the MoU signed by it in 1994.
Senior advocate Mr Mukul Rohatgi appearing for JSW Steel submitted that while signing MoU with the State in 1994, it was assured that it would be allotted a captive mine in the state after National Mineral Development Corporation surrender some of the mines in the State.
He said that “From 1994 to 2011, 17 years has gone by, but we have not been given any mines. Even the small producers in the state have been allotted captive mines adding that JSW Steel is forced to buy iron ore from others and transport miles and it is hampering its growth.”
(sourced from TheHindu)
The Hindu reported that JSW Steel on Wednesday withdrew its petition seeking direction to the Karnataka government for allotting captive iron ore mines for its steel plant in the state after the Supreme Court refused to entertain its plea.
A bench comprising Justices Mr VS Sirpurkar and Mr TS Thakur declined to entertain the plea of JSW Steel to direct the Karnataka government to lease a captive mine for steel plant at Vijaynagar in the State.
The bench said that “We cannot enlarge the scope of the petition and direct some one to surrender its lease or give lease to some one.”
The apex court was also not convinced by the submission of the company that it made an investment of INR 10,000 crore by setting a steel plant on the assurances of the state government that a captive mine would be allotted to it.
The bench said that “JSW are not an unknown villager, who would invest such a large sum on promises only.”
However, it gave liberty to the company to approach the Karnataka High Court if it feels that the state government has not fulfilled obligation under the MoU signed by it in 1994.
Senior advocate Mr Mukul Rohatgi appearing for JSW Steel submitted that while signing MoU with the State in 1994, it was assured that it would be allotted a captive mine in the state after National Mineral Development Corporation surrender some of the mines in the State.
He said that “From 1994 to 2011, 17 years has gone by, but we have not been given any mines. Even the small producers in the state have been allotted captive mines adding that JSW Steel is forced to buy iron ore from others and transport miles and it is hampering its growth.”
(sourced from TheHindu)
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