The Delhi High Court yesterday sought the Centre's response on a plea by 3 steel companies - ArcelorMittal India, Jindal Steel and Power and Bhushan Steel against the cut-off date in the Mineral Concession Rules for executing a mining lease with a state government. A bench of Justices Indira Bannerjee and Anil Kumar Chawla issued a notice to the Centre and the government of Jharkhand, where the mining leases are sought by the companies and listed the matter for hearing on 7th March. Meanwhile, Bhushan Steel share price soared above 4 per cent on the NSE today.
The 3 companies have said that under Rule 8(4) if the lease with the state government is not executed before 11th January 11, 2017, after an order for grant of mining lease is passed by the Centre, they would end up forfeiting their right for a mining lease.
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