Kolkata, Sep 28 (IANS): Hailing the Singur verdict, West Bengal Chief Minister Mamata Banerjee Wednesday called it "a victory of the people" that would pave the way for return of land to farmers.

"It is a historic event not only for Singur or the country but for the whole world. The Singur movement will forever be an example of struggle and victory for the world," Banerjee said.

Earlier, the Calcutta High Court ruled the Singur Land Rehabilitation and Development Act passed by the government was valid and constitutional.

Justice Indra Prasanna Mukherjee rejected the plea of Tata Motors challenging the legislation.

Banerjee said the verdict has paved way for returning of land to farmers for which the formalities had been completed. "The remaining land of 600 acres will be used for setting up industrial units," she said.

The automobile major shifted the Nano plant to Gujarat from Singur in 2008, succumbing to protests by farmers led by the Trinamool Congress that sought the return of 400 acres taken from farmers reportedly unwilling to part with their land.

Within a month of forming the government in May, Banerjee enacted the Singur Land Rehabilitation and Development Act, scrapping the land lease given to Tata Motors by the Left Front regime for the small car plant.

However, the matter got locked in legal battles stretching from the Calcutta High Court to the Supreme Court.