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SC verdict on coal blocks infra today

Last Updated 27 January 2015, 02:48 IST

The Supreme Court on Tuesday is set to pass its order on a significant question pertaining to the fate of immoveable assets, including plants and factories, created over the coal blocks in the proposed auction following cancellation of allocations.

A bench of Justices J Chelameswar and R F Nariman would deliver its verdict in the case that also deals with the plea of compensation made by the affected companies.

The court, on February 22, reserved its order on a petition filed by Sova Ispat Ltd, a West Bengal-based company seeking interim compensation for its operational steel plants at the coal block in view of its Rs 400-crore investment.

The Centre, on its part, had told the court that those having plants and factories in the cancelled coal blocks would not be provided any compensation in the proposed auction of over 200 blocks on February 14.

The apex court, on September 24, 2014, quashed the allocation of 214 of 218 coal blocks made since 1993, terming it “fatally flawed” and allowed the Centre to take over operation of 42 blocks which were functional.

The Centre had claimed that there were hundreds of end-use plants on the blocks and the participating bidders in the proposed auction may not be interested in acquiring the plants.

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(Published 27 January 2015, 02:48 IST)

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