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JUSTICE A S ANAND APPOINTED AS ARBITRATOR IN BAUXITE MINING CASE:

21-12-2008

The Supreme Court has appointed former Chief Justice of India Justice A S Anand as the sole arbitrator in the bauxite mining case between the VISA International Limited and the Continental Resources Limited (USA).

VISA is engaged in the business of providing services in international trading of minerals, metals and ship chartering.

The two firms signed a Memorandum of Understanding on Februray 14, 2005 for the mining of bauxite deposits from Gandhamardan Mines in the state of Orissa.

The American firm was supposed to set up an integrated Aluminium complex in Orissa with an alumina refinery to be catered by the bauxite deposits.

The US firm was supposed to invest 7.40 lakh dollars, 74 per cent of the total investment of one million dollars which the firm invested for the pre-project activities.

While day-to-day control of the unit was to remain with VISA International. Later, some dispute arose between the two firms.

Justice B Sudershan Reddy while appointing Justice Anand, who is also the former chairman of the NHRC, requested him to decide the dispute between the parties and directed that the sole arbitrator would be at liberty to fix his fee in the matter.

UNI
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