Supreme Court of India directs the defaulted miners to pay their dues with 12 pc interest.

Bhubaneswar: The Mining Companies those had defaulted paying the charged over-mined compensation by the stipulated 31st December last year will now have to pay their dues with 12 pc interest, ordered the Supreme Court on Tuesday.

The Top Court directed Industrial Development Corporation of Odisha Limited (IDCOL) to collect the amount after examining the status report of the Odisha government. The Court has allowed the agency to take tough steps even seizing property if needed to recover the arrears.

The state government in its report submitted to the Central Empowerment Committee (CEC) after the collection closed on 31st December had mentioned the total recovery amount as Rs 8289.35 cr. With Rs 2000 cr more deposited after the deadline the collection as of now is Rs10289 cr.

On the basis of the Supreme Court order of August 2, last year Odisha government had send demand notice to lease holders of 133 mines claiming Rs 17576 cr as full compensation of the mines they excavated during 2000-2010 beyond area they had got permission for.

By the deadline 73 mine lease holders-30 inactive and 43 active complied with the order.

Odisha government shut down the mines those did not comply.

However the Top Court has not mandated any deadline for deposit in this order of Tuesday for which some miners may find it a flexible chance to save their liscence and assets, say the mine watchers.

See also  IndianOil pays Rs. 2,935 crore to Odisha Govt. towards VAT payment of Paradip Refinery

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