Vedanta Reviews Legal Options after High Court Verdict, Says Bauxite Supply Will Remain Unaffected

Advertisement

Bhubaneswar: Vedanta Aluminium has said it is reviewing the Odisha High Court’s verdict in the long-standing bauxite dispute with Odisha Mining Corporation (OMC) and is considering the legal options available to it.

Reacting to the High Court order, a spokesperson for Vedanta Aluminium said the company is examining the judgment and evaluating possible legal remedies.

The company also clarified that the court order will have no impact on the supply of bauxite to Vedanta Aluminium, indicating that its raw material supply will continue to remain unaffected despite the verdict.

The statement comes after the Odisha High Court dismissed Vedanta’s plea in the long-running bauxite dispute with OMC. The court also upheld OMC’s 2015 decision to terminate the joint venture arrangement.

The dispute traces its origins to an agreement signed in 2004 between OMC and Sterlite Industries, Vedanta’s then group entity, for a joint mining venture. However, OMC subsequently terminated the joint venture arrangement in 2015.

Vedanta had approached the High Court claiming rights based on the earlier agreements and assurances.

Advertisement

According to the verdict, since the 2015 termination had attained finality, rights could not now be claimed on the basis of the previous arrangement.

Following the verdict, Vedanta has kept its legal options open and is reviewing the order before deciding its next course of action.

Attention will now be on whether the company decides to pursue further legal remedies in connection with the dispute.

Watch the video here:

Also read: Bhubaneswar Nayapalli Rape Case: Masked Accused Still at Large, Police Launch Manhunt, Watch

Advertisement