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Advocate ML Sharma files petition in Supreme Court seeking cancellation of coal blocks sale to private power firms

Advocate M L Sharma has filed a petition in Supreme Court seeking quashing of auction of coal blocks to all power companies and demanding enquiry against the government for fixing a low floor price for the sold mines.

Sharma, based on whose petition the Supreme Court had de-allocated 204 coal blocks in September 2014, has alleged that the coal block auction process adopted by the government was 'illegal, arbitrary nmoand without any force of law, attractting criminal breach of trust under section 409 and corruption under PC Act 1988'.

The petition has alleged that the auction process created a financial loss to the treasury as the floor price fixed by the government at Rs 150 per tonne for steel sector blocks and Rs 100 per tonne fixed price for power sector mines is less than the market price of about Rs 3000 per tonne.

source: http://economictimes.indiatimes.com