00:00 You might remember that there was a lot of controversy regarding the Singur and Tata
00:04 nano plants in West Bengal.
00:05 The nano plant was being opposed but now Tata Motors has won this case and in this case
00:11 Tata Motors has won the case of compensation to the West Bengal government.
00:15 So, what is the latest update on this and what was the controversy in this video, we
00:21 will understand in detail.
00:22 Hi, this is Bhavna and you are watching Good Returns.
00:25 In the latest update, Tata Motors Limited has said that a media panel has made a statement
00:29 in support of the West Bengal Industrial Development Corp. and has announced a compensation of
00:36 Rs 766 crore.
00:37 Tata Motors has claimed compensation from WBIDC for the loss of capital in the Singur
00:41 automobile manufacturing facility in West Bengal.
00:44 WBIDC is the main nodal agency of the West Bengal Industries, Commerce and Enterprises
00:52 Department.
00:53 It is under the Mamta Biranji government.
00:54 Under the decision, the company was deemed eligible to receive Rs 765.8 crore and from
01:00 1 September 2016 to the actual recovery, 11% of the annual interest is included.
01:06 The company will also be paid Rs 1 crore for the cost of the operation.
01:11 After the decision, the arbitral proceedings have ended.
01:14 Now, let's know what was the whole matter about which the controversy had occurred.
01:20 On 18 May 2006, the chairman of Tata Group, Ratan Tata, announced the construction of
01:27 a small car project for Tata Motors in Singur with the then Chief Minister of West Bengal,
01:34 Budhdev Bhattacharya and the Minister of State for Commerce, Nirupam Sen.
01:38 After that, the necessary 1,000 acres of land was purchased for the project.
01:42 The process started.
01:43 Before Mamta Banerjee, it was the Bampanthi government who gave this permission.
01:47 Under this permission, a plant was to be planted for the production of the dream project of
01:52 Tata, Nano, on the land of West Bengal.
01:54 In 2006, the farmers accused Tata Group of forcibly occupying the land and protested against
02:00 it.
02:01 Then Mamta Banerjee also joined the farmers in this protest.
02:04 At that time, Mamta Banerjee was in the opposition and was against the policies of the Bampanthi
02:09 government.
02:10 That's why she also opposed the project.
02:12 While expressing her opposition to the matter, Mamta Banerjee even protested.
02:17 After that, when Mamta Banerjee became the government, she gave a big shock to Tata Group
02:22 with the assertion of power.
02:24 Mamta Banerjee, after taking over the post of Chief Minister of West Bengal, made a law
02:29 and decided to return about 1,000 acres of land to those 13,000 farmers.
02:34 And this was the land whose ownership Tata Motors had taken to plant its Nano plants.
02:40 After this incident, Ratan Tata held a press conference and decided to leave this project
02:45 worth Rs. 1,500 crores.
02:47 He decided to leave Singur for the benefit of his workers and shifted the Nano plant from
02:53 West Bengal to the Sanand of Gujarat.
02:56 Tata Motors challenged the Mamta Banerjee government's law in 2011, through which the
03:01 company was taken back the land.
03:03 In June 2012, the Kolkata High Court declared Singur Act as unconstitutional and the land
03:11 lease agreement was revoked.
03:15 Despite this decision, Tata Motors did not regain its land.
03:19 After this, the West Bengal government filed an appeal in the Supreme Court in August 2012.
03:25 In August 2016, the Supreme Court declared the acquisition of the Nano plant by the West
03:33 Bengal government as illegal and ordered the land to be returned to the farmers.
03:38 After this, Tata Motors demanded compensation by submitting a clause for the land lease
03:44 agreement.
03:45 According to the clause, if the ownership of the land is considered illegal, then the
03:50 company will have to pay compensation for the loss incurred on the land.
03:55 Tata Motors demanded arbitration in this case and after serving 7 years in the court, Tata
04:02 Motors has finally won.
04:05 Now, the West Bengal government will have to return the money to Tata Motors along with
04:10 the interest.
04:11 This was the whole story.
04:13 How did you like this video?
04:14 Do tell us by commenting.
04:15 If you are watching on Facebook, then like the Facebook page.
04:18 If you are watching on YouTube, then don't forget to subscribe to GoodReturns YouTube channel.
Comments