We are pleased to report that the Hon’ble Supreme Court vide its above noted Judgment has set aside the Order passed by the Kamataka High Court dated April 3. 2012 and has allowed our Civil Appeal.
While a copy of the Judgment has been uploaded on the website of the Company lvmwdeccangoldmines.com) and is also available on the Supreme Court website, it may be noted that the Hon’ble Supreme Court has formed the View that:
(1) The Kamataka High Court erred in allowing the Writ Petition of Hutti Gold Mines Limited (HGML)= a PSU owned by the Government of Kamataka . This Writ Petition “as filed by HGML against the Order dated May 31, 2011 passed by the Central Government.
(2) The decision ofthe Central Government vide its Order dated May 31, 2011 is upheld. This Order had rejected the proposal of the Government of Kamataka for reservation of the Hutti iBIock areas in flavour of HGML by overlooking the Prospecting Licence (PL) applications of our subsidiary, Deccan Exploration Services Private Limited (DESPL)
3) The State of Kamataka is directed to consider the case of DESPL for grant of PL in accordance with the provisions of the Mines 6’; Minerals (Development <32: Regulation) Act, - 1957 as they now stand amended in the year 2015.
Hutti — Maski Belt Projects
Hutti Maski Greenstone belt is one ofthe most important Archaean gold bearing belts in India The Hum—Mask; belt hosts world class Hutti Gold deposit that is being mined by The Hutti Gold Mines Limited DESPL has carried out exploration over an area 851 sq. km in the Hutti Belt, which has resulted in identifying 21 gold bearing blocks. A total of 11 PL applications covering the 21 gold targets have been filed with the Kamataka State Government.