The Supreme Court on Friday rejected a plea of Tata Motors that challenged the Brihanmumbai Electric Supply & Transport’s decision to disqualify the automobile company from a tender bid for supplying 1,400 electric buses in Mumbai.
Therefore, the contract was awarded to Hyderabad-based Evey Trans Pvt. Ltd. by the BEST.
The bench comprising Justices Surya Kant & JB Pardiwala passed the order and rejected the appeal of Tata Motors.
While dismissing Tata Motors’ plea, the apex Court also set aside a Bombay High Court order that directed BEST to issue a fresh tender.
However, Tata Motors is yet to issue statements regarding the court’s decision. The company hasn’t made it clear what it will do next.
Therefore, the development is a setback for the company, which is a major player and looking at the electric bus market in a big way. The order would have boosted its existence in the sector.
The company shares were trading 3.25 % up at Rs 525 apiece on Friday’s closing. In a time period of 5 days, the company’s shares were down 1.39% on BSE.
