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TaMo wins ₹768 cr in Singur arbitration
Hindustan Times
|October 31, 2023
Tata Motors Ltd said it had won an arbitration award of ₹766 crore from the West Bengal Industrial Development Corp. Ltd (WBIDC), the state's industrial development agency, marking the resolution of a long-standing dispute related to its Singur plant, which was shut in 2008 due to protests against land acquisition.
Tata Motors had plans to manufacture its Nano model, touted to be the world's cheapest car, at the facility.
The arbitral tribunal also ordered WBIDC to pay the interest on the amount at an 11% rate, starting from September 2016 and extending until the actual recovery of the funds.
Esta historia es de la edición October 31, 2023 de Hindustan Times.
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