In Brief
The Karnataka Iron and Steel Manufacturers Association sought directions to prevent NMDC from adopting differential pricing for iron ore in Karnataka auctions and to fix realistic floor prices. The Court dismissed the application, reaffirming that base price determination is the prerogative of lessees. While NMDC may adopt differential pricing based on market forces, inability to sell due to higher prices cannot justify export permission without established export guidelines. Export must be governed by general norms applicable to all, not ad hoc individual decisions. The Court reserved the questions of NMDC's special dispensation continuity and export framework for future consideration.
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