Supreme Court seeks respose from PKCL on captive coal block issue

The Supreme Court has sought a response from Parsa Kente Collieries Limited (PKCL), a joint venture (JV) between Adani Enterprises Limited and Rajasthan Rajya Vidyut Utpadan Nigam Limited, over a plea seeking cancellation of coal blocks allocated to the company. The allotment has caused an estimated loss of Rs 12 billion to the exchequer and has been done despite the Supreme Court’s ruling passed in 2014 wherein it had deallocated 204 coal blocks that were awarded to various companies during 1993-2010. The court subsequently held that any JV set up to transfer the mining rights to a private company was illegal. However, PKCL was reallocated the coal block and allowed to carry on mining in 2015.

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