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Nano’s scrapped Singur plant: Bengal govt instructed to pay Rs 766 crore compensation to Tata Motors
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NEW DELHI: Tata Motors on Monday introduced that they’ve secured an arbitral award amounting to Rs 765.78 crores as compensation for his or her funding within the now-defunct Singur plant.
“The aforesaid pending arbitral proceedings earlier than a three-member Arbitral Tribunal has now been lastly disposed of by a unanimous award in favour of Tata Motors Restricted (TML) whereby the claimant(TML) has been held to be entitled to recuperate from the respondent (WBIDC) a sum of Rs.765.78 crores with curiosity thereon @ 11% p.a.from September 1, 2016 until precise restoration thereof,” Tata Motors mentioned in a press release.
“The Claimant (TML) has additionally been held to be entitled to recuperate from the respondent (WBIDC) a sum of Rs.1 crore in the direction of the price of the proceedings,” it added.
Extra particulars to comply with.
“The aforesaid pending arbitral proceedings earlier than a three-member Arbitral Tribunal has now been lastly disposed of by a unanimous award in favour of Tata Motors Restricted (TML) whereby the claimant(TML) has been held to be entitled to recuperate from the respondent (WBIDC) a sum of Rs.765.78 crores with curiosity thereon @ 11% p.a.from September 1, 2016 until precise restoration thereof,” Tata Motors mentioned in a press release.
“The Claimant (TML) has additionally been held to be entitled to recuperate from the respondent (WBIDC) a sum of Rs.1 crore in the direction of the price of the proceedings,” it added.
Extra particulars to comply with.
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