India’s Supreme Court has rejected a plea by iron ore miners seeking commercial sale of iron ore in the southern Indian state of Karnataka outside the purview of mandatory e-auctions, according to a court ruling on Monday, August 28.
The Supreme Court in its ruling said that, given the experience of the past, including illegal mining and the leakage of government revenues, the time is not right for the resumption of the earlier practice of the sale of iron ore without recourse to e-auctions.
The court in its ruling said that the present practice of mandatory e-auctions of iron ore and all existing rules pertaining to it will continue and no deviation from it will be allowed at this point of time.