The Supreme Court had cancelled 214 coal block allocations.
New Delhi:
The government could bring an ordinance or executive order as part of a blueprint being prepared to implement the Supreme Court verdict that cancels the allocation of 214 coal mine blocks in the country, Attorney General Mukul Rohatgi has told NDTV.
The Coal Ministry has sought Mr Rohatgi's opinion on whether the government needs an Ordinance to deal with issues arising out of the court's decision to de-allocate all but four of 218 blocks allotted to various companies since 1993.
The government will need to look into issues like forfeiture of bank guarantees and title deeds of land mines purchased by the companies.
Mr Rohatgi said the blueprint being prepared includes bringing an ordinance to acquire land from coal companies whose allocations had been cancelled.
On August 25 last, the court had ruled that the coal blocks were allotted through an "ad-hoc and casual" approach "without application of mind". It said, "Common good and public interest suffered heavily in the unfair distribution of the national wealth - coal."
A bench led by Chief Justice RM Lodha spared four coal blocks used for mega power projects by Reliance Power and the state-run National Thermal Power Corporation and Steel Authority of India.
The Supreme Court's verdict has major implications for the energy sector. Analysts also fear that it will affect investor sentiment.
Most of the power, steel and cement companies that won coal blocks between 1993 and 2011 will have to return them. The government is now free to auction or allot the blocks to central firms.
About 40 companies that had started operating were given six months' time to wind up business. They have to pay a fine of Rs. 295 for every metric tonne of coal mined, which, some estimates say, could amount to a total of Rs 8,000 to 10,000 crores.
The court's decision stems from allegations in 2012 by the national auditor or CAG, that the government underpriced coal mines and gave away as much as $33 billion or Rs. 1.86 crores in windfall gains to companies in the scandal that has come to be known as "coal-gate".
The Coal Ministry has sought Mr Rohatgi's opinion on whether the government needs an Ordinance to deal with issues arising out of the court's decision to de-allocate all but four of 218 blocks allotted to various companies since 1993.
The government will need to look into issues like forfeiture of bank guarantees and title deeds of land mines purchased by the companies.
Mr Rohatgi said the blueprint being prepared includes bringing an ordinance to acquire land from coal companies whose allocations had been cancelled.
On August 25 last, the court had ruled that the coal blocks were allotted through an "ad-hoc and casual" approach "without application of mind". It said, "Common good and public interest suffered heavily in the unfair distribution of the national wealth - coal."
A bench led by Chief Justice RM Lodha spared four coal blocks used for mega power projects by Reliance Power and the state-run National Thermal Power Corporation and Steel Authority of India.
The Supreme Court's verdict has major implications for the energy sector. Analysts also fear that it will affect investor sentiment.
Most of the power, steel and cement companies that won coal blocks between 1993 and 2011 will have to return them. The government is now free to auction or allot the blocks to central firms.
About 40 companies that had started operating were given six months' time to wind up business. They have to pay a fine of Rs. 295 for every metric tonne of coal mined, which, some estimates say, could amount to a total of Rs 8,000 to 10,000 crores.
The court's decision stems from allegations in 2012 by the national auditor or CAG, that the government underpriced coal mines and gave away as much as $33 billion or Rs. 1.86 crores in windfall gains to companies in the scandal that has come to be known as "coal-gate".
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