Tata Motors has announced that it has won its case regarding the Singur Plant dispute in a statement issued. The West Bengal Industrial Development Corporation (WBIDC) has been held responsible for paying Tata Motors a sum of Rs 768.78 crore due to losses incurred on its manufacturing site in Singur, the company stated on Monday.
According to Tata Motors, a three-member arbitral tribunal has ruled in the company's favor in relation to the Singur Plant controversy.
The statement from Tata Motors indicated that "Tata Motors Limited has been found to have the right to claim a sum of Rs 765.78 crores from the respondent (WBIDC) along with an 11 percent annual interest from September 1, 2016, until the actual recovery."
In addition, Tata Motors has asserted its right to recover an additional Rs 1 crore from WBIDC to cover the expenses of court proceedings.
The automotive company had sought compensation from WBIDC under various categories, including capital investments lost concerning the automotive manufacturing facility situated in Singur.
Tata Motors had to relocate its manufacturing plant from Singur in West Bengal to Sanand in Gujarat in October 2008 due to a land dispute. The plant had been initially established for the production of the small car Nano, and Tata Motors had already invested Rs 1,000 crore into this facility.
