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SUPREME COURT REFUSES MUMBAI SEZ PLEA TO STAY LAND ACQUISITION.
NEW DELHI, June 8 Asia Pulse - The Mumbai SEZ Ltd runs the risk of being scrapped after the Supreme Court on Friday refused to stay the land acquisition process that has to conclude by today.
A Bench headed by Justice B Sudarshan Reddy dismissed the firm's plea challenging the Bombay High Court interim order that refused to stay the process of land acquisition.
MSEZ, which was to come up in an area of 10,000 hectares at an investment of Rs 400 billion (US$8.5 billion), last month filed a writ petition before the High Court seeking a direction to the Raigad district administration to speed up land acquisition initiated under the provisions of the Land Acquisition Act, 1894.
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Source: HighBeam Research, SUPREME COURT REFUSES MUMBAI SEZ PLEA TO STAY LAND ACQUISITION.