Excellent judgement. No body will dare to enter WB / BanGal/ Bangla. They will continue to remain on chai & Pavroti. As it is, they have no work culture, hence no Industry need to come.
Tata Motors Limited is a totally corrupt organisation. One such example - Tarun Samant, the CEO and Principal Officer of a TATA MOTORS company called Tata Motors Insurance Broking & Advisory Services Limited is working there by producing a fake University Graduation Certificate and it is known by everybody including all top executives of Tata Group. But no action has been taken against him as he has kept the mouth of everybody shut through the illegal money he managed by money laundering through insurance of vehicles manufactured by Tata Motors Limited, Financed by Tata Motors Finance Limited and insured by Tata Motors Insurance Broking & Advisory Services Limited
"Public purpose" can be served by Governments even by facilitating private ventures which generate employment and growth of GDP. One cannot say that private businesses are by nature against "public purpose". Every acquisition need not be to set up for some Govt public sector venture. Of course in this case, it looks as if the WB State GOvt did not deal with the farmers properly and hence the SC verdict.
Congratulation to court for the judgement!! We thought the case is over!! Nano is grown now from then is manufactured elsewhere!! Tata chief is changed?? WB cm and people have changed?? Great court functioing!! Just delayed is justice denied!! Never mind the farmers next generation will get the compensation, if not they can go to court for the next decade!!
Ka beer, just because it is free on Rediff to give your comments , you don't have to repeat the same comment for number of time just to prove your point.
Tatas pay lease rent on 1000 acres 1-5 years @ 1 cr per year 5 cr 6-10 years @1.25 Cr per year 6.5 Cr., 11-15 years @1.56 Cr per year 7.8 Cr 16-20 years @ 1.95 Cr per year 9.75 Cr., 21-25 years @ 2.44 Cr per year 12.2 Cr., 26-30 years @3.05 Cr per year 15.25 Cr., 31-40 years @ 5 Cr per year 50 Cr., 41-50 years @ 6.5 Cr per year 65 Cr., 51-60 years @ 8.45 Cr per year 84.5 Cr 61-90 years @ 20 Cr per year 600 Cr
A total rent of 856 Cr.
Compare this with interest WBIDC has to pay on a loan 150 Cr taken @ 10% p.a. to acquire the land for Tatas!
Interest @ 10% on a loan of 150 Cr for 90 years = 1350 Cr Add Principal Rs. 150 Cr., An aggregate cost to WBIDC Rs. 1500 Cr. Against which it receives a lease rent of only 856 Cr., i.e. a Subsidy of 644 Cr (1500-856) (interest benefit due to the back-ended payments in favour of Tatas not factored)
Plus
WBIDC sanctioned a 5 year loan of 200 Cr only @ 1% p.a. interest to Tatas. If you take 11% Bank FD rate, then the cost to WBIDC is 10% (11-1) For a 5 year term it translates to 50% on 200 Cr loan i.e 100 Cr additional subsidy
Total subsidy = 644;100 = 744 Cr Cost of project= 1300 Cr., Subsidy as a % of project cost: 744/1300 i.e. 57%
Electricity tariff is only 3/- per unit (KWH) i.e. the lowest domestic slab against 10/- per unit (CERC Peak load hour rate) for industrial supply in a power starved state i.e a subsidy of 67%!
