SteelMint in talk with market participants learned that the hearing for iron ore mining case in the state of Odisha is in progress at Supreme Court.
Following the illegal mining case hearing, the hearing began for the Rule-37 of Mineral Concession Rules. Rule-37 of Mineral Concession Rules debars any lessee to assign, sub-let, mortgage or in any other manner transfer the mining lease or any right, title or interest therein without previous written consent of the state government.
According to the latest round of update received, the hearing against the lease holders who were found guilty of violating Rule -37 has been done at the Apex Court.
Market sources highlighted that currently Supreme Court is hearing the case on Essel Mining for mining in excess lease area.
Trade sources expect the judgement of all cases which are being heard may be out together and they expect final judgement may not come before Jul’17.
JSPL-Sarda Mines case hearing scheduled on 24 Apr’17 – JSPL’s case regarding lifting of iron ore stock from Sarda Mines has been scheduled on 24 Apr’17.
Owing to lack of necessary clearances, Sarda mines was closed on Apr’14. Later on 8 Apr’16, Odisha High Court ordered JSPL to lift its iron ore stocks lying at Sarda mines following which state govt. was directed to fast track the case of lifting stocks. However towards beginning of Aug’16, Odisha govt. filed Special Leave Petition (SLP) against the state High Court order. After this, series of hearings were conducted thereafter on 23 Nov’16, 18 Jan’17, 30 Jan’17 and on 06 Mar’17.
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