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Credit: X/@ArcelorMittal
New Delhi: World's largest steel producer ArcelorMittal on Monday withdrew its plea from the Supreme Court seeking its nod to return 2,643 acres of land acquired for setting up a plant at Ballari.
The development comes as the Karnataka Industrial Area Development Board Court it has withdrawn its February 4 and March 3, 2023 show cause notices issued to ArcelorMittal to terminate lease-cum-sale agreement of November 14, 2018.
A bench of Justices Sanjay Kishan Kaul and Sudhanshu Dhulia recorded a submission by senior advocate A M Singhvi, for steel company, on withdrawal of its writ petition, in view of the change in circumstances.
Senior advocate S Muralidhar, along with advocate Nishanth Patil for KIADB, submitted that to allay any misapprehension, a decision has been taken on November 6 to withdraw the show cause notices.
The court said the prayer made by the steel company stood "worked out" as show cause notice has been withdrawn. "No purpose would be served to keep the matter alive," the court added.
Earlier, the steel producer had told the court that in view of the changed scenario, the petitioner is not desirous of keeping the land and will return the entire land of 2643 acres for the plant.
The amount paid of Rs 267 crores can also be forfeited by the Karnataka Industrial Areas Development Board, it said.
The court had then asked KIADB to respond to the plea.
On February 5, 2023, the Supreme Court ordered ArcelorMittal to pay enhanced compensation of more than Rs 30 lakh each for about 300 acres of land acquired by Karnataka Industrial Areas Development Board in 2010 for setting up a steel plant of the company at Ballari.
A group of farmers had then approached the top court against a decision to re-examine their plea for enhanced compensation for their land out of 4865.64 acres acquired in Ballari.