 "Steel Strips Wheels opens steel processing unit")
The Indian Steel Association moved the Supreme Court on Friday seeking transfer and consolidation of all cases currently pending in the various high courts relating to minimum import price (MIP) of steel notified by the government in February 2016.
The move was to prevent a multiplicity oflitigation, which may lead to contradictory judgments being made on the issueby the different high courts.
The MIP is currently being challenged in multiplehigh courts in Delhi, Punjab & Haryana and Himachal Pradesh. The bench ofJustice A K Sikri and Justice C Nagappan heard the petitioners and listed the matter for further hearing on May 12. Earlier in March, the Steel Wires Manufacturers Association had approached the Delhi High Court challenging the MIPon the ground that the international price of steel had fallen sharply due tolack of global demand and that the current MIP was far above the global priceand adversely affecting steel importers in the nation.
