PANJIM, SEPT 20
Salgaonkar Mining Industries Private Limited (SMIPL) today told the Bombay High Court at Goa that it does not accept the Government’s decision to increase the bank guarantee to Rs 10 crore in the M V River Princess case.
The reply comes after the State in an oral statement to the Court, last week said that it has asked SMIPL to hike the bank guarantee to Rs 10 crore from Rs 1 crore.
The modification in the SMIPL terms and conditions also asked the Company to deposit the money from scraps of the vessel to the Court till the entire vessel is cut into pieces and re-floated.
SMIPL, however, informed the Court that has turned down the fresh modification put forth by the Government. The Division Bench comprising of Justices D G Karnik and F M Reis adjourned the matter for final hearing on Wednesday.
The Court is hearing the petition filed by River Princess Hatao Manch (RPHM). Advocate General Subodh Kantak earlier this month had informed the Division Bench that the Government agreed to the SMIPL to remove the stranded vessel from the Candolim shore free of cost.
Meanwhile, RPHM has also shown keen interest to cut the vessel without charging any fee from the Government. It has, however, not filed any application in the Court on the same, till date.
