Financial Daily from THE HINDU group of publications
Tuesday, Feb 26, 2002
Financial Daily from THE HINDU group of publications Tuesday, Feb 26, 2002 |
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Agri-Biz & Commodities
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Tea HC stays Incoserve broker selection Our Correspondent
COIMBATORE: A consortium of tea brokers has moved the Madras High Court and obtained a stay on the Government's purported move in engaging three selective brokers for procuring the teas from Incoserve (Tamil Nadu Small Tea Growers' Industrial Cooperative Factories Federation Ltd) gardens for sale through public auctions. Speaking on condition of anonymity, a leading broker said that they decided to move the court against Incoserve and the Government this time, unlike last, when they roped in all the brokers to contest the selection process in Tantea. Although the Tantea case was heard 10 days back, the verdict still remains `reserved'. Meanwhile, due to the `stay', the brokers will not be able to sell the teas procured from the Inco gardens at the auction.
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