Apex Court Rejects Petition by Vedanta, FIMI to Cancel Iron Ore E-Auction in Karnataka

Bengaluru/New Delhi: Supreme Court has rejected a joint petition by Federation of Indian Mineral Industries (FIMI) and corporate giant Vedanta on Monday seeking cancellation of e-auction of iron ore in Karnataka.

A two member bench consisting of Justice Ranjan Gogoi and Justice Navin Sinha stated in an order that the suggestions by the two petitioners are unacceptable. The petitioners had urged the court to instruct the concerned to hold long term agreement between iron ore producers and distributors instead of e-auction process in the state.