Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

NALCO moves SC challenging Odisha HC’s verdict on Vedanta

IANS
Updated: April 25th, 2019, 14:24 IST
in Business, State
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi:  The National Aluminum Co Ltd (NALCO) has moved the Supreme Court challenging Odisha High Court’s judgment that allows Vedanta’s Jharsuguda unit to participate in a tender floated by it for the sale of surplus alumina.

Public sector enterprise NALCO, in its special leave petition, said that as per the policy, the tender for export of alumina was issued only to overseas customers and, therefore, Vedanta could not be registered with NALCO.

Also Read

Police arrest 4, recover Rs 20.86 lakh

12 mins ago

Phase-II trial of RSP advanced STP soon

15 mins ago

It also told the court that in 2005 NALCO, after considering various circumstances, decided to sell alumina overseas.

NALCO is a leading producer of low-cost metallurgical grade alumina in the world and the commodity produced is used to meet its requirements to produce primary aluminum at smelter. The surplus alumina is sold to third parties in the export market.

But NALCO has rejected Vedanta’s plea for participating in tender for the sale of alumina, observing that Vedanta Ltd was established under the Special Economic Zone (SEZ) statute.

However, NALCO said that Vedanta could participate in the tender, if interested, through its sister concern company based in London.

Aggrieved by the decision, Vedanta moved the Odisha High Court which allowed the company’s Jharsuguda unit to participate in the tender.

The Odisha High Court in its order delivered on March 26 said: “… Because on one hand, it refuses the petitioner (Vedanta) to participate in the tender, on the other hand, the opposite party has allowed the petitioner to apply through its sister concern based in London and spend huge Forex to transport to London and call it back for its use at SEZ, does not find favour with the commercial sense.”

Vedanta has challenged the corporate conditions contained in the tender of spot sale of 30,000 mt of Metallurgical Grade Calcined Alumina floated by NALCO.

Vedanta said that the decision of NALCO has adversely affected the public interest of fetching maximum revenue by sale of a alumina produced from bauxite (which is readily available to the opposite party through mining on account of it being a public sector undertaking).

Vedanta claimed it was the largest manufacturer of aluminium and was engaged in manufacturing and selling aluminium products.

The company is having 1.6 million tonnes per annum (MTPA) aluminium smelter plant which includes a SEZ unit having an Aluminum Smelter Plant with a capacity of 1.25 MTPA at Bhurkamunda in Jharsuguda district in Odisha.

(IANS)

Tags: JharsugudaNALCOOdisha High CourtSupreme CourtVedanta
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019

Archives

Editorial

India’s Spy Shift

July 5, 2025

India’s espionage architecture is quietly shifting. The appointment of Parag Jain as the new chief of RAW comes at a...

Read more

Hungary Lessons

Hungary
July 2, 2025

Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

Read more

New Democratic Face

Zohran Mamdani
July 1, 2025

US President Donald Trump, who had comfortably defeated his Democratic rival Kamala Harris in the recent presidential election and exuded...

Read more

Proof To Vote

Vote
June 30, 2025

Months ahead of the Assembly polls in Bihar, the Election Commission of India (ECI) on 28 June launched a ‘special...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST