UltraTech gets nod for limestone Mining

Mumbai, 27 Mar, 2015: Cement maker Ultratech Cement, a subsidiary of Aditya Birla Group’s Grasim Industries Ltd, on Thursday said the Rajasthan High Court has “quashed and set aside” a state government order resulting in cancellation of a limestone mining lease to the company’s subsidiary.

“The order was challenged by Gotan Limestone Khanij Udyog Private Limited (a subsidiary of Ultratech Cement) before the Rajasthan High Court at Jodhpur. The high court has quashed and set aside the order relating to cancellation of the mine and all consequential actions of the government of Rajasthan and has directed to handover the possession of mining lease to GKUPL forthwith,” the company said in a regulatory filing with the National Stock Exchange.

Last year, Rajsthan’s Anti-Corruption Bureau also had filed an FIR against the state’s mines department, former shareholders of GKUPL and directors of UltraTech Cement for alleged illegal transfer of a limestone mine in Gotan area in Nagaur district in 2012.

Thereafter, in December, the cement maker received an order from the state’s mines department about cancellation of the mining lease alleging procedural irregularities.

The company, post cancellation of the mining lease at Gotan had challenged the state’s order in the Rajasthan High Court.

“This will enable GKUPL to take possession and operate the mines,” the company said.COGENCIS