The Supreme Court on Monday stayed the November order of the Goa Bench of the Bombay High Court cancelling the orders allotting land to promoters of Special Economic Zone in Goa and while issuing notices to the Goa Government, Goa Industrial Development Corporation also directed them to maintain status quo.
Justice Dalveer Bhandari and Justice Deepak Verma issued the order after K Raheja & Corporation, Peninsula Pharma Research Centre, Planetview Mercantile Co, Inox Mercantile Company and Paradigm Logistrs & Distribution appealed before the Supreme Court against the High Court order.
Besides contending that the State government cannot cancel SEZ notified by the Union government, the companies also claimed to have invested huge amounts in developing the lands which would result in losses to them.
In fact, the Raheja group that was allotted three SEZ in Goa claimed to have already spent Rs. 190 crores.
It may be recalled that in November the Goa Bench of the Bombay High Court had cancelled the land allotted to the promoters of SEZ in Goa on grounds that the allocation was done in a hasty and arbitrary manner without even scrutinizing the applications.