New Delhi [India], May 19 : The Supreme Court on Friday dismissed a plea of Tata Motors which challenged the Brihanmumbai Electric Supply and Transport (BEST)'s decision to disqualify the automobile company from a tender bid for supplying 1,400 electric buses in Mumbai.
The contract was awarded to Hyderabad-based Evey Trans Pvt Ltd by the BEST.
A bench of Justices Surya Kant and JB Pardiwala passed the order and declined the appeal of Tata Motors, challenging the decision to disqualify it from tender bid.
While dismissing Tata Motors' plea, the Supreme Court also set aside a Bombay High Court order that had directed BEST to issue a fresh tender.
Tata Motors is yet to issue statements regarding the court's decision. The company hasn't made it clear what it will do next.
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 presence in the sector.
The shares of the company were trading 3.25 per cent up at Rs 525 apiece on Friday's closing. In a span of five days, the company's shares were down 1.39 per cent on BSE.
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