Paradeep Phosphates Wins Supreme Court Case for ₹53.50 Cr Subsidy

Paradeep Phosphates Ltd has received a favorable order from the Supreme Court of India, dismissing an appeal by the Department of Fertilizers. This upholds a prior Delhi High Court ruling that directed the release of ₹53.50 crores in subsidy to the company under the Nutrient Based Subsidy (NBS) Scheme. The litigation stemmed from the company's writ petition seeking the release of this subsidy claim, along with applicable interest. The Supreme Court's decision confirms the High Court's directive, ensuring the release of the subsidy to Paradeep Phosphates.