New Delhi: The Supreme Court Thursday reserved its order on a petition filed by Jindal Steel and Power Ltd (JSPL) seeking an approval to lift iron ore excavated by Sarda Mines Private Ltd (SMPL) in Odisha.
A three-judge bench of CJI Sharad Arvind Bobde, Justice BR Gavai and Justice Surya Kant concluded the hearings on the matter and reserved its order.
During the hearing, the SMPL told the court that it has given an undertaking that it would deposit the penalty amount of over Rs 933 crore by the end of February, 2020.
Meanwhile, the counsel appearing for JSPL, Mukul Rohatgi, argued in the court that the firm should be permitted to lift iron ore from SMPL’s site as the company has already given undertaking to pay the dues.
“I should be allowed to remove the iron ore which is mine. How would we be able to pay special purpose vehicle dues to State Bank of India until we process it and sell it?” the advocate submitted to the court.
The counsel appearing for state of Odisha, Shibasish Mishra, submitted that the state would not have any objection to JSPL lifting iron ore from the site if SMPL gives undertaking to pay all the dues.
Earlier, the court had Wednesday directed the mining firm to pay the penalty amount within a month to resume mining operations in Odisha.