Zee Media Bureau
New Delhi: The Supreme Court on Thursday refused to restrain coal companies, who were asked to wind up operations in 6 months, from extracting more coal and selling it in market.
These companies were given 6 months' time and we cannot direct them not to excavate coal during the period, the apex court said.
In a major blow to the corporate sector, the Supreme Court had last month quashed allocation of 214 out of 218 coal blocks, which were allotted to various companies since 1993 and in which it was claimed that around Rs 2 lakh crores were invested.
A bench, headed by Chief Justice R M Lodha, saved only four blocks--one belonging to NTPC and SAIL each and two allocated to Ultra Mega Power Projects--from being cancelled.
The bench, also comprising justices Madan B Lokur and Kurian Joseph, granted six months breathing time to mining companies to wind up their operations in the coal blocks.
With PTI Inputs
