![]() Financial Daily from THE HINDU group of publications Thursday, Mar 28, 2002 |
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Corporate
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Courts/Legal Issues HR coil floor price: Ruling reserved Our Bureau
KOLKATA, March 27 MR Justice Amitava Lala of the Calcutta High Court on Wednesday reserved judgement on the writ petition of Mahesh Marketing Pvt Ltd, a company dealing in steel items, filed against the Department of Commerce. In the petition, two notifications one bearing no.31 (RI-99) 1997-2002 dated November 1, 1999 and the other bearing no.35 (RI-98) 1997-2002 dated December 11, 1998, both issued by the department were challenged. In the notification, the floor price of the hot-roll coil was determined under Section 5 of the Foreign Trade Development Act, 1992. It was alleged that countries such as Japan, China, Venezuela, Romania, Kazaksthan and Argentina had been included in the list of those who would enjoy privilege in anti-dumping duty, which, in fact, would cause immense prejudice to the steel producing companies in India. Earlier, a writ petition was filed on the same cause when the judge directed disposal of the complaint applications pending before the Designated Authority and that the anti-dumping duty be maintained within $302 per tonne. Mr S.S. Ray, counsel, argued that since the earlier petition was pending, this one also could be tagged with it and the duty issue might be maintained status quo and the floor price should be fixed accordingly, till the petitions were heard out analogously. In the writ petition, the activity of the competent authority had been challenged and the further issuance of notification dated January 4, 1999 and January 12, 2000 was also disputed.
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