SC rejects Essar Steel’s plea for compensationhttps://indianexpress.com/article/business/companies/sc-rejects-essar-steels-plea-for-compensation-5323833/

SC rejects Essar Steel’s plea for compensation

Essar Steel had earlier moved SC seeking parity with the fertiliser and power sectors after a gas pooling policy was introduced in March 2015 to ensure adequate supply of gas to stranded power plants.

SC rejects Essar Steel’s plea for compensation
Essar House building in Mumbai. (Express Photo/Nirmal Harindran/File)

The Supreme Court on Friday dismissed Essar Steel’s petition seeking compensation of Rs 26,000 crore from the government for “disrupting” supply of gas to its sponge iron/steel plant in Hazira, Gujarat. The bench said that it will be open to Essar “to contest the proceedings in the connected cases relating to allocation of gas to different priority sectors”.

Essar Steel had earlier moved SC seeking parity with the fertiliser and power sectors after a gas pooling policy was introduced in March 2015 to ensure adequate supply of gas to stranded power plants.