datastreet.in

Calcutta HC refuses plea for stay of arbitration award to Tata Motors

The Calcutta High Court on Thursday refused to entertain the WBIDC’s prayer for an unconditional stay of an arbitration award in favour of Tata Motors over a dispute regarding land allotted for setting up a car manufacturing unit in Singur.
The court imposed several terms and conditions on award-debtor West Bengal Industrial Development Corporation Ltd (WBIDC) for imposing a stay on the arbitration award passed on October 30, 2023.
Passing the judgment, Justice Aniruddha Roy noted that the disputes between WBIDC and Tata Motors arose with regard to allotment of land for setting up a car manufacturing unit at Singur in West Bengal’s Hooghly district, for which land was provided by applicant WBIDC.
Following a prolonged anti-land acquisition agitation led by the then opposition leader Mamata Banerjee, Tata Motors left Singur to set up the Nano car plant in Gujarat’s Sanand in October 2008.
An arbitration tribunal on October 30, 2023, made an award in favour of Tata Motors for an …

Source :- Companies Read More

Share it :

Leave a Reply

Your email address will not be published. Required fields are marked *