BackAdani moves apex court to vacate stay on Mundra SEZ
Adani moves apex court to vacate stay on Mundra SEZ
PremiumGautam Adani, chairman of the Adani Group. The firm wants to start work at the stalled economic zone project (Photo by: Abhijit Bhatlekar/Bloomberg)
New Delhi: The Adani Group, that has interests in oil and ports, on Monday moved the Supreme Court seeking vacation of a stay order, which stalled work at its multi-product special economic zone (SEZ) in Gujarat.
A bench headed by justice Altamas Kabir said it would hear the matter on Wednesday.
It had also issued notices to the ministries of commerce, environment and forests, Gujarat government, Mundra Ports and SEZ and the Adani group. Mundra SEZ is proposed to come up in about 6,000 acres of land with an investment of Rs7,400 crore.
Adani counsels Harish Salve and Ankur Chawla said all the allegations against the SEZ were baseless and aimed at pressurizing the group for illegal gains. They said the company had not indulged in land grabbing but had acquired the land strictly in accordance with law after giving a public hearing and paying compensation and premium for rehabilitation.
According to the company, the Mundra Port is a running port since 1998 and all the activities of loading and unloading were being undertaken in accordance with the law and after obtaining necessary permission and clearances. The application added that the group had already invested more than Rs3,500 crore in port development and planned to invest another Rs4,000 crore.
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