Tata Motors can recover Rs 766 crore from Bengal in Singur plant row: Tribunal
04-Nov-2023The West Bengal Industrial Development Corporation (WBIDC) is liable to pay Rs 768.78 crore to Tata Motors in connection with losses incurred on its manufacturing site in Singur, the automobile company said on Monday.
The West Bengal Industrial Development Corporation (WBIDC) is liable to pay Rs 768.78 crore to Tata Motors in connection with losses incurred on its manufacturing site in Singur, the automobile company said on Monday.
Tata Motors, in a statement, claimed that a three-member arbitral tribunal had ruled in favour of the company, in the proceedings of the Singur Plant row.
"Tata Motors Limited has been held to be entitled to recover from the respondent (WBIDC) a sum of Rs 765.78 crores with an interest of 11 per cent per annum from September 1, 2016 till actual recovery thereof," the statement read.
Tata Motors also said that it is entitled to recover Rs 1 crore from WBIDC for the cost of court proceedings.
