The Supreme Court has granted permission to file a special leave petition by TGP Equity Management Private Limited against the orders of the High Court of Orissa. The appeals delay is condoned, and the leave is granted. The Government of Odisha appeals against the Calcutta High Court's judgment directing the formation of a High-Powered Committee to decide on the renewal of mining leases for Kolha-Roida, Thakurani, and Dalki mines. TGP also challenges the rejection of its renewal application by the High Court of Orissa. The Supreme Court sets aside the High Court of Calcutta's order for forming the committee and dismisses TGP's appeal. The leases will not be renewed, and TGP and workers can pursue their claims under the Companies Act.

1. Permission and Leave Granted

• Special leave petition by TPG Equity Management Private Limited is allowed.
• Delay in filing the appeals is condoned.

2. Background of the Case

• The Government of Odisha challenges the Calcutta High Court's judgment on the formation of a High-Powered Committee.
• TGP challenges the Orissa High Court's rejection of the renewal application for Kolha-Roida.

3. Historical Context

• Bird and Company Limited granted three mining leases in 1924 and 1926.
• The leases were renewed multiple times.
• Bird and Co. was nationalized in 1980, and the undertakings were transferred to the Central Government.

4. Lease Renewal Applications and Rejections

• BPMEL and OMDC's involvement in the mining leases.
• Various legal proceedings and rejections of lease renewal applications by the State of Odisha.
• The role of TGP as an assignee from UCO Bank.

5. Legal and Financial Complications

• The winding-up proceedings of BPMEL and the involvement of the Official Liquidator.
• TGP's financial claims and recovery from BPMEL.

6. Supreme Court's Decision

• The Supreme Court's analysis of the lease renewal issues.
• The impracticality of renewing leases given the financial and operational status of BPMEL and OMDC.
• Dismissal of TGP's appeals and upholding the rejection of lease renewal by the State of Odisha.

7. Conclusion and Further Proceedings

• Appeals by the State of Odisha allowed, setting aside the High Court of Calcutta's order.
• TGP's appeal dismissed.
• Applications for renewal of Thakurani and Dalki leases treated as rejected.
• Proceedings to continue before the Company Court for enforcement of dues under the Companies Act, 1956.

8. Order on Costs

• No order as to costs.