<p>The Supreme Court on Monday rejected a plea by lobby group Federation of Indian Mineral Industries (FIMI) for scrapping e-auction system for selling iron ore in Karnataka.<br /><br />A bench presided over by Justice Ranjan Gogoi saw no reason to change the prevailing system, even though Karnataka and Central Empowered Committee has supported the application.<br /> <br />The FIMI has asked for an alternative mechanism for e-auction of iron ore extracted from Ballari, Tumakuru and Chitradurga mines, saying it was introduced as temporary system.<br /> <br />FIMI claimed that instead of e-auction, there should be long term agreement between the producers and buyers as part of the new mechanism. It has relied upon a report by the Central Empowered Committee (CEC) in this regard on April 28, 2016.<br /> <br />The plea was opposed by NGO Samaj Parivartan Samudaya which stated the e-auction was meant to provide the best price and royalty to the state government.</p>
<p>The Supreme Court on Monday rejected a plea by lobby group Federation of Indian Mineral Industries (FIMI) for scrapping e-auction system for selling iron ore in Karnataka.<br /><br />A bench presided over by Justice Ranjan Gogoi saw no reason to change the prevailing system, even though Karnataka and Central Empowered Committee has supported the application.<br /> <br />The FIMI has asked for an alternative mechanism for e-auction of iron ore extracted from Ballari, Tumakuru and Chitradurga mines, saying it was introduced as temporary system.<br /> <br />FIMI claimed that instead of e-auction, there should be long term agreement between the producers and buyers as part of the new mechanism. It has relied upon a report by the Central Empowered Committee (CEC) in this regard on April 28, 2016.<br /> <br />The plea was opposed by NGO Samaj Parivartan Samudaya which stated the e-auction was meant to provide the best price and royalty to the state government.</p>
