Economy

Karnataka puts on hold decision to sell land to JSW Steel

Our Bureau Bengaluru | Updated on May 27, 2021

Basavaraj Bommai, Law and Parliamentary Affairs and Home Minister   -  The Hindu

Move follows legal tussle with company on other issues

The Karnataka government has put on hold its decision to sell 3,667 acres to JSW Steel Ltd in Ballari district.

Basavaraj Bommai, Law and Parliamentary Affairs and Home Minister, briefing reporters after the Cabinet meeting said a decision to this effect was taken at the State Cabinet meeting as there were pending cases in the Karnataka High Court and in the Supreme Court.

“The Cabinet has not confirmed its previous decision. The earlier decision is put on hold,” the minister said.

The government’s decision to sell the land was opposed by many leaders within the ruling BJP and severely opposed by Minister for Infrastructure Development Anand Singh. The BJP high command too had expressed its views against the sale of land.

The Cabinet on April 26 had decided to sell the land parcel to the JSW Steel. It had also decided to file a special leave petition (SLP) before the Supreme Court seeking payment of dues to the tune of ₹1,172.79 crore by JSW Steel Ltd to the Mysore Minerals Limited (MML).

MML and JSW Ltd have been in legal tussle over alleged breach of the MoU since 2012. The BJP, when it was in opposition, was against the allotment of land by the coalition government led by HD Kumaraswamy in May 2019. The coalition government had taken a decision to execute an absolute sale deed in favour of JSW Ltd, which has been operating a 12 mtpa steel plant in Toranagallu.

EV policy

The Cabinet has approved amendments to the Karnataka Electric Vehicle and Storage Policy to provide 15 percent capital subsidy on fixed assets in five equal annual installments.

The cabinet also approved seven mega drinking water projects at a cost of ₹6,768.85 crore in 4,647 rural habitations and 27 towns.

Published on May 27, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor