High Court Orders Manaksia Entity to Deposit Enhanced Land Premium in Haldia Litigation

High Court Orders Manaksia Entity to Deposit Enhanced Land Premium in Haldia Litigation

High Court Orders Manaksia Entity to Deposit Enhanced Land Premium in Haldia Litigation​

A ruling by the High Court at Calcutta has mandated that a petitioner in litigation concerning land in Haldia, West Bengal, deposit an enhanced land premium amount of Rs. 3,32,50,000/- (Three Crores Thirty-Two Lakhs Fifty Thousand only) to the Haldia Development Authority (HDA).

The case involves M/s. Manaksia Ltd. versus The State of West Bengal & Ors., filed before the High Court at Calcutta under Case No. W.P.A. No. 15313 of 2008. This matter relates to a writ petition seeking to set aside previous orders issued by the Chief Executive Officer, HDA, dated February 05, 2008, and July 04, 2008.

The dispute centers on an enhanced land premium rate demanded by HDA for 35 acres of land. The petitioner sought reconsideration after HDA had asked for a premium at Rs. 15 lakhs per acre, instead of the previously agreed rate of 5.50 lakhs per acre.

Following its judgment dated July 27, 2026, the High Court directed that the petitioner must deposit the remaining enhanced land premium amount into favor of HDA within six weeks from the date of the Order.

The total quantum of claims in this specific matter stands at Rs. 3,32,50,000/- (Rupees Three Crores Thirty-Two Lakhs Fifty Thousand only). The Company stated that it envisages no adverse financial implications arising from the imposition of the demand and may prefer an appeal against the Order.

Key details regarding the litigation are presented below:

ParticularsDetails
Opposing PartyThe State of West Bengal & Ors.
Court JurisdictionHigh Court at Calcutta (Constitutional Writ Jurisdiction Appellate Side)
Dispute SummarySetting aside HDA orders regarding land premium for 35 acres in Haldia.
Total Premium PayableRs. 3,32,50,000/-

MANAKSTEEL Stock Price Movement​

Manaksia Steels Limited shares gained sharply on Tuesday, closing at ₹84.71 after the equity surged 5.00%. The stock recorded a total traded volume of 48,208 during the session.
 

Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.

The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.

Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.

Last edited by a moderator:

Editorial Note

This news article was written and created by Shreyas, and published on IST.
Back
Top