The Tata Motors logo.
Credit: Reuters File Photo
Kolkata: The ruling TMC in West Bengal on Monday downplayed Tata Motors' win in arbitral proceedings against the West Bengal Industrial Development Corporation (WBIDC) for the abandoned car project in Singur, stressing that it is not the 'final verdict' and legal avenues are open before the state government.
Tata Motors announced on Monday that it has won the arbitral proceedings, which centred on the loss of its capital, and now the company can recover Rs 765.78 crore plus interest from WBIDC.
"This is not a final verdict or a verdict by the Supreme Court. This is a ruling by an arbitral tribunal. It doesn't mean this is the end of the road for the state government. Legal avenues are still open for the state government," senior TMC MP Sougata Roy said.
The controversy surrounding the abandoned car manufacturing plant in Singur in Hooghly district dates back to 2008 when Tata Motors, faced with opposition led by TMC supremo Mamata Banerjee, announced the withdrawal of its ambitious 'Nano' car production facility.
At the time, the CPI(M)-led Left Front was in power. The BJP had accused the TMC of driving industries away from the state.
BJP spokesperson Samik Bhattacharya said, "We are against forcible land acquisition. But when the industry started, we wanted the factory to come up. For the wrong policies of the CPI(M) and the militant agitation of the TMC, the Tatas were forced out of the state, permanently driving industries away."
In an official statement, Tata Motors said, "In respect of arbitration proceedings between Tata Motors Limited and WBIDC, this is to inform that the aforesaid pending arbitral proceedings before a three-member Arbitral Tribunal has now been finally disposed of in favor of TML on October 30, 2023, and the company has been held to recover Rs 765.78 crore plus interest from WBIDC."