Coal news and updates

Electrosteel mulls legal recourse for block cancellation

September 25: Electrosteel Castings Limited (ECL) is considering plans to take legal recourse for the cancellation of its Parbatpur coal block vide the Supreme Court judgement dated September 24.

As per the Supreme Court order, the company can continue production from the said block till March 31, 2015, the company noted in a statement to the BSE.

However, “coal extracted so far from this mine, as also further production done till March 31, 2015 will also attract the additional levy of Rs 295 per ton,” the statement said.

“ECL is examining the matter and will take suitable legal recourse,” it added.

The company further stated that another coal block at North Dhadhu in Jharkhand, which was allocated to ECL along with three others, also stands cancelled.