Ambanis, Mittal, Tata, Sahara face tough 2013 in courts

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If 2012 was year of 2G scam, then 2013 would be recorded in history of apex court for coalgate case (AP) If 2012 was year of 2G scam, then 2013 would be recorded in history of apex court for coalgate case (AP)
SummaryIf 2012 was year of 2G scam, then 2013 would be recorded in history of apex court for coalgate case

from Radia's tapped conversations.

It also directed CBI to probe into allotment of coal blocks to Sasan Power Project run by ADAG and allotment of iron ore mines at Ankua, in Singhbhum district of Jharkhand to Tata Steel.

Out of 23 issues which were framed by a court-appointed probe team on the analysis of tapped conversations of Radia with bureaucrats, politicians, corporate tycoons and scribes, the apex court ordered CBI probe in 14 issues.

During the year, the Supreme Court also made it clear that it would quash the Jet-Etihad Airways deal if there are any irregularities in it.

It also issued notices to Centre on a plea for putting on record a memo sent by PMO to the Corporate Affairs Ministry in which the PMO had allegedly raised serious reservations in respect of the growth of the middle eastern carriers including Etihad.

Sterlite Industries, a subsidiary of UK-based Vedanta Group, was directed by the apex court to pay Rs 100 crore as compensation for polluting environment through its copper smelting plant in Tamil Nadu.

It also refused to stay the May 31 National Green Tribunal order allowing Sterlite Industries Ltd to start operating its copper smelting plant in Tamil Nadu's Tuticorin district.

During the year, the apex court set aside the Orissa High Court order which had quashed the state government's petition to allot iron ore licence to steel major Posco in Khandadhar hills in Sundergarh district for a multi-crore steel plant.

The Delhi High Court too was seized with some important business matters, including the controversy surrounding the AirAsia deal and a plea filed by Nokia for lifting of stay on sale of the assets.

Paving the way for Nokia's sale to Microsoft under its USD 7.2 billion global deal with the US giant, the Delhi High Court ordered defreezing of its assets with conditions including that Nokia Finland shall be jointly liable to pay tax demand raised under the IT Act.

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