Centre Welcomes SC Decision to Cancel Allocation Of 214 Coal Blocks
The Supreme Court (SC) has cancelled 214 coal block allocations out of the 218 that were under consideration. These allocations were made to various companies since 1993.
The Centre welcomed the SC decision and stated that its stand on the allegedly illegal coal block allocations was now vindicated. The government has been granted six months to ensure a smooth transition within which it will have to decide on the course of action to be followed.
The corporate world, however, was disappointed with the verdict with business leaders predicting decrease in domestic coal supplies causing supply disruptions and aggravation of the power crisis. It is also believed that this will dampen investor confidence.
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