Overview

• A bench of Justices Surya Kant and N Kotiswar Singh on May 30 dismissed KNMT’s appeal, affirming the Allahabad High Court’s 2017 order that voided the 2003 allotment
• The court found that UPSIDC’s rapid grant of the Sultanpur tract breached due diligence requirements and failed to uphold public interest
• KNMT was branded a chronic defaulter after missing scheduled payments and repeatedly seeking unwarranted interest waivers and rescheduling of dues
• The judgment also annulled a later offer to Jagdishpur Paper Mills Limited, declaring that allotment illegal and ordering refunds with bank interest
• The apex court directed Uttar Pradesh authorities to overhaul industrial land procedures to guarantee transparency, fairness, revenue maximization and regional development alignment