The story so far: In what could serve as an epilogue to a long-drawn tussle between Tata Motors and the West Bengal Industrial Development Corporation (WBIDC), an arbitration panel on Monday directed the latter to compensate the automobile manufacturer for “the loss of capital investments” for the suspended Nano manufacturing facility at Singur. Tata Motors was forced to exit the town in southern Bengal following protests by Trinamool Congress leader Mamata Banerjee alleging “forcible acquisition of land” and forced displacements.
In an exchange filing on Monday, Tata Motors revealed the conclusion of the arbitration panel’s proceedings in its favour. With unanimous agreement, Tata Motors was deemed eligible to recover a sum of Rs 765.78 crore at an interest of 11% per annum from the WBIDC until actual recovery. This would be for the period beginning from September 1, 2016 — when the Supreme Court declared the acquisition of the land in central Bengal as “void and unconstitutional.” It also directed the WBIDC to pay a sum of Rs 1 crore to Tata Motors towards “cost of proceedings” (or legal charges).
Reacting to the development, TMC MP from Dum Dum (West Bengal) Sougata Roy said the tribunal’s order was neither the final verdict nor a judgment of the Supreme Court. “Legal avenues are still open for the State government,” news agency PTI quoted him as saying.
