Odisha News Insight

SC asks Defaulter Mine Leaseholders to pay penalty with interest

ONI Bureau: The Supreme Court has asked the defaulter mining lease holders, who had failed to pay the penalty imposed on them by December 31, to pay the amount along with interest.

They now will have to pay the penalty plus 12% interest. The Industrial Development Corporation of Odisha Limited (IDCOL) has been directed by the apex court to collect the amount from the mining leaseholders.

The Supreme Court also authorised the State Government to continue collection of penalty from the defaulters and confiscate their property if they fail to pay. The State Government has so far received Rs 10,189 crore. 44 mining leaseholders are yet to pay the penalty.

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