Singur-Naino project case: Big win for Tata Motors, Bengal government ordered to pay compensation of Rs 766 crore

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New Delhi, 30-October-2023, Monday

In the Singur-Nano Project Case (Singur Nano Project Case) Tata Motors has won a big victory in the compensation case against the West Bengal Government. Tata Motors Ltd said that a three-member arbitration panel in the Singur-Nano project case has ordered the West Bengal Industrial Development Corporation to pay compensation of Rs 766 crore to the company, including interest.

Tata Motors suffered losses in its investment in automobile manufacturing in Singur

Tata Motors had invested to start automobile manufacturing in Singur, West Bengal, although the loss-making WBIDC claimed compensation. WBIDC is the main nodal agency of West Bengal Department of Industries, Commerce and Enterprise. The company has given this information in an exchange filing on Monday. According to the information, the three-member arbitral tribunal has given a unanimous decision in favor of Tata Motors and said that the company is entitled to recover Rs 765.8 crore. It also includes interest at the rate of 11 percent per annum from 1st September 2016 till actual recovery from WBIDC.

Tata Motors will also bear the cost of the proceedings

In addition to the compensation, the company will also recover Rs 1 crore as cost of action. According to the statement, after the decision, the arbitral proceedings i.e. the proceedings of the arbitration panel have come to an end.

What was the controversy?

On May 18, 2006, Tata Group Chairman Ratan Tata held a meeting with former West Bengal Chief Minister Buddhadeb Bhattacharya and former Minister of State for Commerce Nirupam Sen to set up Tata Motor's small car project in Singur. announced. The process of acquiring 1 thousand acres of land required for the project was also initiated... However, a three-day all-party meeting was convened by the Hooghly district administration between 27 May and 4 July 2006, which was boycotted by the Trinamool Congress. On November 30, Mamata Banerjee was prevented from going to Singur, due to which there was a ruckus in the assembly, Trinamul Congress MLAs vandalized the assembly...

Mamata Banerjee fasted unto death

Opposition leader Mamat Banerjee started a fast to death at Dil Esplanade in Kolkata from 3rd December 2006 against land acquisition for the Singur project. In the meantime there were agitations across the state. After that several attempts were made to calm the protest. However, in the end Ratan Tata had to announce the exit of the Nano project from Singur.

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