Background and Context
The land in question was transferred to Manaksia Steels Limited from Manaksia Limited effective October 1, 2013, pursuant to a Scheme of Demerger sanctioned by the Hon'ble High Court, Calcutta vide its Order dated March 24, 2014. The disclosure is being made because the fact of this transfer has not been updated in the records of the concerned Statutory Authority.
Litigation Details
Case Name: M/s. Manaksia Ltd. versus The State of West Bengal & Ors.
Court: High Court at Calcutta (Constitutional Writ Jurisdiction Appellate Side)
Case Number: W.P.A. No. 15313 of 2008
Dispute Summary: Manaksia Ltd. filed a writ petition seeking to set aside Orders under Memo dated February 5, 2008, and July 4, 2008, issued by the Chief Executive Officer, Haldia Development Authority (HDA). HDA demanded payment of land premium at an enhanced rate of ₹15 lakhs per acre for 35 acres of land, compared to the previously agreed rate of ₹5.50 lakhs per acre.
Court Judgment and Order
The High Court vide its Judgment dated July 27, 2026 directed that the petitioner shall deposit the remaining enhanced land premium of ₹3,32,50,000/- (Rupees Three Crores Thirty-Two Lakhs Fifty Thousand only) in favor of HDA within a period of six weeks from the date of the Order.
Financial Implications
Quantum of Claims: ₹3,32,50,000/- (Rupees Three Crores Thirty-Two Lakhs Fifty Thousand only) is the total amount payable pursuant to the Order.
Operational Impact: The Company envisages no adverse financial implications in its working due to imposition of this demand.
Future Course of Action
The Petitioner Company may prefer an appeal against the Order.