Jindal Steel moves HC against cancellation of coal blocks
Jindal Steel and Power Ltd (JSPL)on Monday moved Delhi High Court against the decision of the centre to cancel coal blocks allocated to it.business Updated: Mar 23, 2015 13:41 IST
Jindal Steel and Power Ltd (JSPL) on Monday moved Delhi high court against the decision of the centre to cancel coal blocks allocated to it.
JSPL said the coal ministry cancelled the allocation on March 20 and it feared the blocks Gare Palma IV/2, IV/3 and Tara in Chhattisgarh might be allocated to someone else as the government is "moving very fast".
The matter was mentioned before a bench of justices B D Ahmed and Sanjeev Sachdeva by senior advocate Rajiv Nayar who sought an urgent hearing.
The court listed the matter for hearing on Monday before the appropriate bench.
The government had cancelled bids of JSPL and Bharat Aluminium Company (Balco) for four coal blocks amid speculation of cartelisation and had said it will take a final decision on these mines after deliberations.
The government was re-examining the bids for nine coal blocks, including those where JSPL and Balco emerged top bidders in the recently held auction.
Jindal Power had emerged as successful bidder for Gare IV/2, Gare Palma IV/3 and Tara coal blocks, while Balco had successfully bid for Gare Palma IV/1 coal block.
So far, a total of 33 coal blocks have been auctioned in two tranches. While in the first lot 19 coal mines were auctioned, in the second lot 14 coal blocks went under the hammer.