 "Coal mines: Govt may form inter-ministerial panel")
"The Coal Ministry is considering setting up an inter-ministerial committee (IMC) to decide the future course of action pertaining to blocks which have been deallocated," a source said.
The committee is likely to be headed by Additional Secretary, Coal, and may have representatives from the ministries including power and steel, the source said.
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No further details could be obtained.
In a major blow to the corporate sector, the Supreme Court on Wednesday quashed allocation of 214 out of 218 coal blocks alloted to various companies since 1993 terming it as "fatally flawed" and allowed the Centre to take over operation of 42 such blocks which are functional.
The apex court said the beneficiaries of the illegal process "must suffer" the consequences and refused to show sympathy to private companies which submitted that Rs 2.87 lakh crores have been invested in 157 coal blocks and Rs 4 lakh crores in end-use plants.
A bench headed by Chief Justice R M Lodha said that its judgement was intended to correct the wrong done by the Centre over the years and to send a message to Government not to deal with the natural resources as if they belong to a few individuals who can fritter them away at their sweet will.