Courts cancel railways' curb on investors
The Calcutta High Court last week, as well as the Orissa High Court earlier, has disapproved of the restrictions imposed by the railways on the companies which had signed agreements under the Wagon Investment Scheme (WIS). The WIS policy stipulated that the investor was supplied a guaranteed number of rakes per month and a freight rebate for 10 years. According to the Railway Board, the investor shall not carry consignments of third parties and the benefit was specific to the firm which signed the agreement. This rule was challenged in the Orissa High
The Calcutta High Court last week, as well as the Orissa High Court earlier, has disapproved of the restrictions imposed by the railways on the companies which had signed agreements under the Wagon Investment Scheme (WIS). The WIS policy stipulated that the investor was supplied a guaranteed number of rakes per month and a freight rebate for 10 years. According to the Railway Board, the investor shall not carry consignments of third parties and the benefit was specific to the firm which signed the agreement. This rule was challenged in the Orissa High