President Pranab Mukherjee on Tuesday signed the ordinance passed by the Union Cabinet to auction the non-operating coal blocks, which were cancelled by the Supreme Court last month.
On Monday, Union Finance Minister Arun Jaitley had announced that the ordinance stated that the 214 coal blocks be put up for auction, with a priority given to state-owned organisations like NTPC and state electricity boards. Jaitley had also added that the ordinance had been sent to President Mukherjee for his approval.
The auction will be completed within three to four months.
