Companies & Sectors
Supreme Court quashes Singur land acquisition for Tata Nano
New Delhi: In a set back to the Tatas, the Supreme Court on Wednesday set aside the land acquired by the previous Left Front government in West Bengal for the Nano car plant, saying due processes and procedures were not followed.
 
The land was acquired in 2006 for the car project, which was vehemently protested by the Trinamool Congress -- currently in power in the state with Mamata Banerjee as Chief Minisiter. Eventually, the project was shifted to Sanad in Gujarat.
 
The apex court bench of Justice V. Gopal Gowda and Justice Arun Mishra also said that all those farmers who have taken the compensation in lieu of the acquisition need not return it as they have been deprived of their lands and its fruits for last 10 years.
 
The court also said those farmers who had not taken the compensation may withdraw it and that land be returned to the owners within 12 weeks.
 
While agreeing on the quashing of the acquisition, allowing farmers to retain the amount of compensation and directing that the land be returned in 12 weeks, both Justice Gowda and Justice Mishra gave different reasons.
 
"I'm of the view that an acquisition of land in favour of a company cannot be fulfilled as a public purpose," Justice Gowda said in his judgement, adding that due procedures were not followed while acquiring the land in favour of the company.
 
Justice Mishra, in his reasoning, said acquisition in favour of a company is valid as long as it is for a public purpose and the funds for the same are used from the public exchequer.
 
Having said this, he added that: "I'm exercising the power under Article 142 of the Constitution to quash the acquisition since the Nano car project has been shifted to Gujarat and the land is not being utilised for the purpose for which it was acquired."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Diesel car ban cost auto industry Rs 4,000 cr in 8 months: SIAM
New Delhi: Society of Indian Automobile Manufacturers (SIAM) here on Wednesday said the auto industry has lost about Rs 4,000 crore in last eight months after the ban on diesel vehicles in Delhi-NCR.
 
"The auto industry has lost Rs 4,000 crore in the last eight months. I feel everyone wants to regulate the auto industry," said SIAM President Vinod K. Dasari at its 56th annual convention.
 
The ban was lifted by the Supreme Court earlier this month on diesel vehicles above 2,000 cc with one per cent environment cess.
 
Dasari said, the cess, however, will not deter people from buying the diesel vehicles and is unlikely to have any effect on pollution.
 
Union Minister for Heavy Industries Anant Geete, who was also present at the conference, said that the ministries were discussing the issue of pollution.
 
"The auto industry has the government's backing but the court's order must be respected," Geete said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Uttarakhand HC stays Rakesh Roshan's arrest
Nainital : The Uttarakhand High Court has stayed the arrest of Bollywood producer-director Rakesh Roshan till September 19, an official said on Wednesday.
 
A Dehradun-based writer Roop Kumar Sonkar had lodged an FIR against Roshan for copyright violation and accused him of using some parts of his novel in his movie Krish-3 which stars his actor son Hrithik Roshan.
 
Roshan had requested the court to quash the FIR, which Justice U.C. Dhyani refused to do, asking the police not to act against him till September 19.
 
The court on Tuesday said it will take a decision on September 19 if the producer should be arrested or not.
 
The Krish series maker said the script was his original and that there was no copyright violation.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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