"Arguments heard. Judgement reserved," a bench of justices B D Ahmed and Sanjeev Sachdeva said on the pleas of Utkal Coal Ltd, Monnet Ispat and Energy Ltd and Jayaswal Neco Industries Ltd (JNIL).
The three companies have contended that due to "wrong" classification, core sectors like iron and steel, which are to be protected as per 2014 coal ordinance, were losing out to aluminium companies in the auction.
They also said 'non-regulated sector' was not a specified end-use under the ordinance.
On the other hand, Hindalco, which successfully bid for and won the Gare Palma IV/5 mine in Chhattisgarh for which Monnet was vying, said the companies were seeking "reservation" in the allocation of coal blocks.
Also Read
It also said as vesting order for the mine has already been passed in its favour, its position should not be disturbed.
It had asked "what will happen to 'make in India' initiative" of the government if the steel companies have to import coal for their production requirements.
It had also questioned whether there was any application of mind by the government while deciding to club together the core sectors in one group, to ensure that the national economic policy is not affected.