“Everything was black in coal business.” -Supreme Court

The Logical Indian

October 8th, 2014 / 6:32 PM

“Supreme Court Cancels Most Coal Licenses issued by BJP & Congress led governments in last 20 years.”

The Supreme Court on Wednesday ordered the cancellation of almost all coal mining licenses that have been issued since 1993. The court canceled the licenses for 214 of the 218 coal mines.

Of these, licenses for 172 coal blocks which weren’t in production stand canceled immediately, while licenses for 42 blocks which were producing coal or were close to starting production would stand canceled after six months, the court said.

The six months’ time has been allowed to ensure coal supplies don’t get affected until the government comes out with a fresh policy for auctioning the canceled coal blocks, one of the lawyers in the case, who didn’t wish to be named, said.

Only four of the 218 licenses were spared. The reason why these weren’t canceled wasn’t immediately clear. These include two blocks given to Reliance Power Ltd. for an ultra-mega power project, one block given to NTPC Ltd. and the last one to Steel Authority of India Ltd.

The decision follows a ruling by the court last month that licenses for these 218 coal blocks were illegal as they were issued in an arbitrary and nontransparent manner.

In 2012, the Comptroller & Auditor General (CAG) had said that the government lost as much as 1,86,000 Crore rupees ($31 billion) in potential revenues because it handed out the licenses to companies without using competitive bidding.

Source: The Wall Street Journal


Contributors

Edited by :

Share your thoughts..

Related Stories

Public Has Right To Know; Supreme Court To Live Stream Court Proceedings

Supreme Court

1st Time In History: 4 Supreme Court Judges Question The Way The Top Court Is Functioning

Divorce

Mumbai: Family Court Upholds Supreme Court Ruling, Waives Off 6 Month Waiting Period In Divorce

The Supreme Court Orders Army Cannot Use “Excessive Force” In Manipur

Flying At Taxpayers’ Money: Supreme Court Spent Crores Of Rupees On Judges’ Foreign Tours

Supreme Court To Hear The Dongria tribe’s Views, Before Allowing Mining In Odisha’s Niyamgiri Hills

Latest on The Logical Indian

Awareness

Bangalore: Be Prepared To Go To Jail Or Pay Fine Of Rs 1000, If Caught Riding Bike On Footpath

News

27-Yr-Old American Preacher Killed By Protected Tribe On ‘Forbidden’ Island In Andaman & Nicobar

News

1984 Anti-Sikh Riots: Delhi Court Awards First Death Sentence To Convict, Life Imprisonment To Another

News

Bengaluru: 150 People Booked For Dumping Garbage In Public Spaces

News

115 Plastic Cups, 25 Plastic Bags & 2 Flip-Flops Found In Dead Whale’s Stomach In Indonesia

Awareness

This Innovative Idea By An IIT Jodhpur Team Can Purify Contaminated Water At Low Cost

x

Stories that deserve attention, delivered to your inbox!

Handpicked, newsworthy stories which deserve the attention of a rational generation.