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Tata triumphs: Bengal ordered to settle ₹765.78 crore Singur judgment

  • Bengal government ordered to pay Tata Motors ₹765.78 crore plus 11% interest
  • The decision stems from a long-standing dispute over the closure of Tata's Nano factory in Singur
  • WBIDC is also directed to pay ₹1 crore towards the cost of the proceedings

30 Oct 2023

Tata triumphs: Bengal ordered to settle ₹765.78 crore Singur judgment

In a landmark decision, the Bengal government has been ordered to pay Tata Motors a substantial sum of ₹765.78 crore, along with 11% interest from September 2016. The ruling comes from a unanimous decision by a three-member Arbitral Tribunal, concluding a long-standing legal battle over the closure of Tata Motors' Nano factory in Singur.

The Arbitral Tribunal's decision, issued on October 30, 2023, resolves the dispute in favor of Tata Motors, allowing the company to recover the specified amount from the West Bengal Industrial Development Corporation (WBIDC). The ruling also orders WBIDC to pay ₹1 crore towards the cost of the proceedings, marking a significant development in this legal saga.

Watch live on Taaza TV for more updates : https://t.co/m7W5ENFOEr

 

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Sayak Raha commented:
on 12:50 PM, 31st October 2023
informative news

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