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Legal▼ Bearish for Vedanta
Orissa HC dismisses Vedanta's plea to enforce 2004 bauxite supply agreement
The brief
- Orissa High Court dismissed Vedanta’s plea to enforce a 2004 bauxite supply agreement
- The court said promissory estoppel cannot override mining law or create enforceable rights over natural resources
- The ruling affects Vedanta’s access to bauxite, a key input for its aluminium business
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Vedanta’s Odisha investment plans and bauxite dispute
Vedanta announced a ₹1 lakh crore investment drive in Odisha, targeting 50,000 jobs and proposing aluminium projects including a smelter in Dhenkanal and a refinery in Rayagada. The Orissa High Court rejected Vedanta’s plea to enforce a 2004 bauxite supply agreement, saying it could not override mining law.
Thursday, 1 October
- Orissa HC dismisses Vedanta's plea to enforce 2004 bauxite supply agreement