Himachal court allows Ford to construct ski resort

Shimla, June 29 (IANS) In a major relief to Alfred Ford of the Ford Motor Company, the Himachal Pradesh High Court has given clearance to his upcoming multi-billion dollar Himalayan Ski Village project near the tourist resort of Manali.

The court has set aside the government order to scrap the Rs.1,581.10-crore project, being developed by Alfred Ford-promoted subsidiary Himalayan Ski Village Private Ltd, and allowed the company to get going after obtaining necessary clearances.

In a 77-page judgement, a copy of which was provided to the media Friday, Justice Rajiv Sharma observed: "It is duly established that the state government had already made up its mind to cancel the project and the issuance of notice based on the recommendations of the (state's high-power) committee was merely a ritual."

"The notice issued to the company Jan 7, 2010, is without jurisdiction and authority of law. The action of the state to issue notice is unreasonable," said the order dated June 22.

The company had moved the court against the government's show-cause notice in January 2010, which asked it to explain the reasons for not fulfilling mandatory requirements pointed out by the government.

"The state government has changed its stand by initially supporting the case of the company and now by opposing the same on the grounds which are not available to it under the law," the judge said.

Noting that the state government has a right to cancel the implementation agreement after giving the company an opportunity of being heard in case it is found that there was misrepresentation or suppression of material information by the company or in the event of breach of any of the provisions of the agreement, the court said this was not proved.

"The state has failed to satisfy the court that there was any misrepresentation or suppression of material information or breach of any of the provisions of the IA dated June 5, 2006," Justice Sharma said.

The company pleaded that the state had already signed memorandum of understanding, IA and detailed project report and argued that decision to issue the show cause notice was unilateral.

The Ford Motor Company had in April 2004 shown interest in setting up an high-end ski resort project in the Himalayas. In December 2005, the then state government headed by Virbhadra Singh entered into an agreement with the Himalayan Ski Village Company for establishing the project.

The court said it is true that the interests of the local people have to be watched scrupulously by the governmental agencies by adopting the principle of sustainable development. "There is a method prescribed. This has not been followed by the state."

The Bharatiya Janata Party (BJP) - then in the opposition and now ruling - had demanded that the project be scrapped.

When it came to power in January 2008, the BJP said the project was sanctioned by the previous Congress government in a hush-hush manner and raised doubts on the project's adverse impact on the environment and livelihood of the people.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    25.300.10+0.40%
    UNITECH.BO
    49.15-1.60-3.15%
    HDIL.BO
    68.000.70+1.04%
    JAIPRA.BO
    37.800.95+2.58%
    SPICEJET.BO
    108.302.35+2.22%
    RCOM.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    22.803.80+20.00%
    SAHPETRO.BO
    633.60105.60+20.00%
    TTKHE.BO
    46.357.70+19.92%
    KAVERITEL.BO
    364.4059.40+19.48%
    SANDUMA.BO
    141.4022.40+18.82%
    TCIDL.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    36.00-8.45-19.01%
    GGDANDE.BO
    491.400.00+0.00%
    INDUSINDSL.BO
    28.10-4.85-14.72%
    KERALAYUR.BO
    77.00-13.00-14.44%
    RAPICUT.BO
    8.93-1.46-14.05%
    MINDVISCAP.BO

Latest News

  • Bangladesh allows transit for foodgrains for northeast India

    Agartala, May 25 (IANS) In a major policy change, Bangladesh will allow India ferry foodgrains for the mountainous northeastern states via its territory, a Tripura minister said here. "Initially, ...

  • Mizoram to lay roads with World Bank aid

    Aizawl, May 25 (IANS) The northeastern state Mizoram expects to get financial aid from the World Bank for the development of roads in the mountainous state, bordering Myanmar and Bangladesh, officials ...

  • Slips with holograms to replace coins on Kolkata buses

    Kolkata, May 25 (IANS) The familiar scenes of commuters arguing with conductors in Kolkata buses over short change may soon be a thing of past as the bus operators have now hit upon the idea of handing ...

  • Indian software industry to see strong revenue growth: PwC

    New Delhi, May 25 (IANS) The Indian software industry is poised for a strong revenue growth driven by social media, mobility, analytics and cloud, said a report published by PricewaterhouseCoopers (PwC). ...

  • Bhushan Steel to double Odisha plant capacity

    Bhubaneswar, May 25 (IANS) Indian steelmaker Bhushan Steel Limited (BSL) Saturday said it was all set to double the annual capacity of its steel plant in Odisha to six million tonne by the end of this ...

  • UP's power crisis spells trouble for SP

    Lucknow, May 25 (IANS) With mercury soaring in Uttar Pradesh and the grim power situation disrupting life, protests have become the order of the day, spelling trouble for the Samajwadi Party government. ...

  • Jairam points out irregularities in jobs scheme in Odisha

    Bhubaneswar, May 25 (IANS) Pointing out several irregularities in the implementation of rural jobs scheme in Odisha, Union Rural Development Minister Jairam Ramesh has asked Chief Minister Naveen Patnaik ...

  • Rich country investors return home for stable cash income

    The world's biggest investors may be rethinking 20 years of boosting overseas holdings and are instead seeking more stable cash income at home, as aging societies and tighter regulation dull risk appetite. ...

MAJOR STOCKS (A-G)

MAJOR STOCKS (H-N)

MAJOR STOCKS (O-Z)

MARKET COMMENTARY

  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Yahoo! Cricket