"The Bengal Chamber acknowledges with respect, the verdict of the Supreme Court as the highest judicial forum and final court of appeal under the Constitution of India. 

 

"The Chamber feels that this landmark judgement will have impact on the whole country and one in which the Government of West Bengal has triggered an issue which has a national impact. The long term impact on industrialisation will have to be assessed. Any industrial activity must be in sync with the laws of the land. The judgement gives a direction," an official statement from BCC&I read.

The 997 acres of land was acquired by the Buddhadeb Bhattacharya led Left Front government in 2006.

Amid massive protests,which was led by current state Chief Minister Mamata Banerjee, the Tatas abandoned their plans and moved the Nano factory to Gujarat in 2008.

Banerjee was the top opposition leader of the state during that period.

Addressing a press conference in Kolkata on Wednesday, Banerjee said: ""This is a landmark victory. I feel a lot of joy today on this historic verdict. Mingled with the joy there are also tears of joy."

"Now I can die in peace," she said.

Meanwhile, reacting to the verdict, Tata Motors said in a statement: "The case in which the judgement was delivered today, related to the acquisition of land by the State Government, before it was leased to Tata Motors. Our case relating to Singur Act of 2011, is yet to be heard by the Supreme Court. We will study today’s judgement in detail before commenting further on the same.”

The Supreme Court directed the state government to take the land into its possession and distribute it to the original land owners in 12 weeks.

The apex court reached the verdict as it was hearing petitions challenging the quashing of Singur Land Acquisition Act by the Calcutta High Court.

The Supreme Court questioned the way in which more than  400 acres of land was allotted to the car manufacturer by not adhering to the section 4 and 5 of the Land Acquisition Act.

The sections of the Act mandates public notice for receiving objections.

A total of 997 acres of land in Singur was given to the Tatas for their "dirt-cheap" Nano car factory by the previous Left Front government, triggering a wave of protests led by Mamata Banerjee and supported by various civil society groups.