M/S Ultratech Cement Ltd vs The State Of Rajasthan

The Supreme Court upheld the decision of the Rajasthan High Court which dismissed the writ petition challenging the order of the Additional Chief Secretary, Finance, regarding the Capital Investment Subsidy under Clause 13 of the Rajasthan Investment Promotion Scheme-2003. The Court found that the appellant, Ultratech Cement Limited, was entitled to only 50% of the subsidy instead of the claimed 75%, as the earlier Entitlement Certificates were issued in error. The Court held that the appellant must refund the excess subsidy received along with interest at 18% per annum, affirming the authority's interpretation of the Scheme.