Coal news and updates

Godawari Power, Ispat ops unaffected by de-allocation

September 26: Existing operations of Godawari Power and Ispat Ltd will not be affected by the de-allocation of coal blocks by the apex court, the company said in a filing to the BSE on September 26.

A company statement clarified, “The company had been sourcing its coal requirements from linkages from Coal India Limited and from the open market for its existing operations and would continue to procure its requirements for its captive consumption from the aforesaid sources, and as such, the existing operations of the company will not be affected by the decision of the Supreme Court,”

Though the company was allocated three mines for captive use -- Nakia, Madanpur (North) and Madanpur (South) in Chhattisgarh in consortium with other companies, “the said coal blocks could not start operations in view of pendency of certain administrative approvals and, therefore, these coal blocks were de-allocated by the Ministry of Coal, which was, however, stayed by the High Court of Delhi and the matter has been sub-judice,” said a company statement.

“The allocation of the said coal blocks stands cancelled by virtue of the order dated September 24, 2014 passed by the Supreme Court. The company is presently examining this order,” the statement added.