The Supreme Court on Monday quashed the stinging observations made by the Orissa High Court against the state Government for the alleged favouritism it showed to Jindal Strips Limited for exploring chromium deposits in Dhenkanal district.Besides Jindal Strips Limited, there were TISCO, Visa Industries Limited and Jindal Steel and Power Limited in the fray for setting up a JV for exploring mineral from the 505 hectares mine at Tangarpara in the state. However, Jindal Steel and Power Limited later withdrew its offer.Allowing the appeals filed by Industrial Development Corporation of Orissa Limited and TISCO, a Bench, headed by Justice Arijit Pasayat, ordered that while technical bids of all the three parties would remain valid, they are allowed to submit revised financial bids within three weeks. “The appropriate and authorised committee of IDCOL shall consider the technical and the financial bids, keeping in view the parameters of the advertisements, the NIT and and best interest of the state,” the Bench, also comprising Justice P Sathasivam, said.Setting aside the observations and strictures passed by the Orissa High Court in 2004, the apex court said, “Since the matter is pending for long, it would be desirable for the state Government to ensure that the technical and revised financial bids be evaluated and decision be taken by end of June 2008.”“It would be open for the state Government to negotiate with the parties so that the best interest of the state including generation of the revenue and overall development of state in the relevant fields could be achieved,” the court said.Earlier, the Orissa High Court, while quashing the decision of the state Government to establish a joint venture between IDCOL and Jindal Strips Ltd, had passed strictures condemning that the deal was not transparent.Observing that the IDCOL authorities never considered the effect of the incentives and exemptions as claimed by Jindal Strips on the state exchequer and the public interest of the state, the High Court said that the state Government also acted in a lackadaisical manner, if not deliberately, to unduly favour Jindal Strips.
