Tata Motors Wins Singur Land Case, Entitled to Recover ₹766 Crores from West Bengal
Автор: CRACKLE HEAD NEWS
Загружено: 2023-10-31
Просмотров: 115
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In a major setback for the West Bengal government, Tata Motors has won the Singur land case, which has been dragging on for over a decade. The company is now entitled to recover ₹766 crores from the state government as compensation for the losses incurred due to the forcible acquisition of land in Singur in 2006.
Tata Motors had planned to set up a manufacturing plant for its Nano car in Singur, but the project was abandoned due to protests by farmers who were unwilling to give up their land. The West Bengal government had then acquired the land forcibly, but the Supreme Court had ruled in 2016 that the acquisition was illegal.
The arbitration tribunal that awarded the compensation to Tata Motors on Monday has also ordered the West Bengal government to pay interest on the amount at the rate of 11% per annum from September 2016 till the actual recovery of the funds.
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