SC asks Odisha to take steps to collect Rs 70 bn unpaid penalty from miners

Payment of fine with penalty may reopen closed mines and boost iron ore output

The Supreme Court on Tuesday ordered the Odisha government to take steps to collect over Rs 70 billion (Rs 7000 crore) unpaid compensation from the iron ore and manganese mine owners towards excess mining perpetrated in the state.

The court also asked the state-owned Industrial Development Corporation (Idcol) to pay interest at the rate of 12 per cent per annum for the period of delayed payment of the compensation after the expiry of the deadline on 31st December.

The condoning of delayed payment by Idcol has raised hopes among other defaulting miners to pay their dues along with the court stipulated interest