Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

2011 (9) TMI 1250

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... dv. For the FIMI: Mr. Sunil Dogra, Adv., Ms. Kiran Suri, Adv., Ms. Aparna Mattoo, Adv., Mr. S.J. Amith, Adv., Mr. Krishnan Venugopal, Sr.Adv., Ms. Kiran Suri, Adv., Mr. K.N. Phanindra, Adv. For the Sesa Goa: Mr. C.A. Sundaram, Sr.Adv., Ms. Kiran Suri, Adv., Mr. K.N. Phanindra, Adv., Ms. Aparna Mattoo, Adv., Mr. S.J. Amith, Adv., Ms. Kiran Suri, Adv., Mr. K.N. Phanindra, Adv., Ms. Aparna Mattoo, Adv., Mr. S.J. Amith, Adv., M/s. Suresh A. Shroff, Advs., Mr. G.N. Reddy, Adv., Mr. A.K. Sharma, Adv., Mr. Sanjay R. Hegde, Adv., Mr. Anil Kumar Mishra, Adv., Mr. Jay Savla, Adv., Mr. D. Julius Raimei, Adv., Mr. Sumit Ghosh, Adv., Ms. Renuka Sahu, Adv., Mr. Shekhar G. Devasa, Adv., Mr. Sagar Kumar Pradhan, Asdv., Mr. Rohit Pandey, Adv., Mr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ittee [ CEC , for short] dated 1st September, 2011, in which certain recommendations were made by CEC. By the said Order dated 2nd September, 2011, the recommendations of CEC dated 1st September, 2011, have been accepted, subject to certain clarifications. Learned Amicus Curiae suggests that it s recommendations may be re-produced. Accordingly, the recommendations contained in the Report dated 1st September, 2011, are being reproduced hereinbelow: Pursuant to this Hon ble Court s order dated 26.8.2011 this Report is being filed by the CEC regarding the modalities for sale and keeping the accounts of the sale proceeds of about 25 million MT (MMT) of the existing stock of iron ore pertaining to the various mining leases in the Districts o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... made available only to the steel and associate industries. No exports will be permissible; v) the physical verification of the existing stock of the iron ore will be carried out before e-auction so as to determine the quantity of iron ore of different grades physically available; vi) the terms and conditions and the procedure being followed for e-auction of low grate iron ore by the NMDC (A copy is enclosed at ANNEXURE-R-2 to this Report), with appropriate changes will be used for the purpose of eauction and delivery and transportation of the auctioned iron ore; vii) the e-permit system for the issue of transit passes (Mineral Dispatch Permit/trip sheet) will be followed. The weigh bridges will be linked with the online e-permit sy .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e holders and the balance 20% of the sale price may be retained; xi) a Committee comprising of Mr. Deepak Sharma, Additional Principal Chief Conservator of Forest, Karnataka Forest Department, Dr. U.V. Singh, Chief Conservator of Forest, Karnataka Forest Department and Mr. H.R. Srinivasa, Director, Mines Geology, Government of Karnataka may be constituted (hereinafter called the Monitoring Committee ) for dealing with the various issues related to the sale and the transportation of the existing stock of iron ore, keeping account of the sale proceeds and related issues. The above said three officers are at present functioning as Members of the Joint Team constituted by the Hon ble Court by order dated 6.5.2011; xii) the Monitoring C .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... (d) co-opt the respective Deputy Commissioner and the Superintendent of Police of the concerned District as special invitees for keeping an effective check on the movement of trucks carrying iron ore including surprise checks and other associated activities; and (e) to consider complaints with regard to hoarding and to debar a particular party/ industry from taking part in the e-auction if (i) the quantity of iron ore being purchased by it is found to be in excess of its actual requirement and which consequently is adversely affecting the availability of iron ore to the other eligible buyers and (ii) non compliance of the terms and conditions of e-auction. xiii) in the event of any violation of the terms and conditions regarding lo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... other applicable charges, payment of the service charges towards the e-auction service and payment to the lessees as per para 2 (x) above. The CEC may for the present be permitted to release funds to the Monitoring Committee for meeting the expenditure towards monitoring, online linking of weigh bridges with e-permit system and related activities. The amount paid by the CEC may be reimbursed to it in due course of time and as per directions of this Hon ble Court. 5. The above modalities for sale and keeping the account of the sale proceeds of the existing stock of the iron ore may also be made applicable in respect of the manganese ore available in the respective mining leases. This Hon ble Court may please consider the above Report .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates