Kolkata | Dec 31, 2015: Can government penalise companies for delay in development of coal mines which has long been taken away from them under Supreme Court order?
Tata Group arm Tata Sponge has been fighting over this issue and has just received a reprieve from the coal ministry which has allowed it to go for legal recourse against the decision to impose such penalty.
An issue that was settled in January, as highlighted by dna earlier, has now been questioned by the Tata Steel associate company.
A demand of coal mine owners -- power, steel and cement companies -- to waive off the condition of encashment of their bank guarantees due to failure to develop their blocks within the deadline was earlier turned down by an Inter Ministerial Group in January citing a ruling of Delhi High Court.
(Source: http://www.dnaindia.com/)