NEW DELHI | May 25, 2016: The coal ministry has released Rs 677crore as compensation to companies whose coal block allocations were cancelled by the Supreme Court in 2014.
Compensation has been released by the nominated authority to companies including Hindalco, CESC, GVK Power, Jindal Steel and Power for 19 auctioned mines.
Compensation has also been paid to NTPC, SAIL and DVC for 19 blocks owned by them and later allotted to various state government companies.
The compensation is towards costs incurred by the previous allottees for obtaining geological reports and other essential surveys.
About 25 cases are pending in the Delhi High Court related to lesser compensation. The high court has reserved the judgment since April last year.
(Source: http://economictimes.indiatimes.com/)