July 30, 2015 8:02 PM

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SC asks Karnataka to commence 'forthwith' auctioning of mines

The Supreme Court today ordered the Karnataka Government to commence forthwith the auctioning of 15 "C" category iron ore mines in which end-user firms dealing in steel, sponge iron or pelletisation only, would be able to take part. Outlining the modalities for the auction, a bench of Justices Ranjan Gogoi, R K Agrawal and N V Ramana said, the sale proceeds of the auctioning, for the present, will be deposited with Consolidated Fund and this will be subject to further orders of this court. The court also asked the authorities to conclude the auctioning process within 32 weeks from today.

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