IFGL REFRACTORIES LTD. versus ORISSA STATE FINANCIAL CORPORATION & ORS.

Case summary from SCR

Issue for Consideration Whether the MM Plant unit set up by Indo Flogates could be termed as a new industrial unit in accordance with the terms of industrial policy of 1989; if the answer to the aforesaid issue is in the affirmative then, whether the respondents were justified in rejecting subsidy and DG Set subsidy respectively for the MM Plant unit on the ground that both Indo Flogates and the appellant company had already exhausted the overall subsidy limit under the previous industrial policies; whether the respondents are estopped from refusing to disburse the capital