Jindal Steel and Power, which is operating two coal mines in Chattisgarh among eight allocated between 1993 and 2010, today said it is "evaluating the Supreme Court judgement" on coal block allocation and "the implications for JSPL".
"We are not in a position to comment as we are currently evaluating the Supreme Court judgement and the implications for JSPL," the company said.
Meanwhile, shares of JSPL tumbled 13.97 per cent on the BSE today.
All coal blocks during last 17 years since 1993 by various regimes at the Centre have been allocated illegally and arbitrarily, the Supreme Court today held, bringing uncertainty to the fate of 218 block allocations and consequential investments to the tune of around Rs 2 lakh crore.
JSPL is operating two mines in Chhattisgarh having a little over 12 million tonnes a year production capacity now. These are for JSPL's Raigarh steel plant and Tanmar Power plant.
JSPL has also been allocated Utkal B1 mine in Odisha for use in Angul, one mine in Chhattisgarh for Raigarh steel unit and Jitpur mine in Jharkhand for its captive power plant at Godda.
The company has already got stay from High Court against de-allocation by Ministry of Coal for three mines - one each in Madhya Pradesh, Jharkhand and Odisha.
The Utran North mine jointly allocated to JSPL & Monnet Ispat, in Jharkhand is meant for JSPL's Raigarh steel plant. The Amarkonda mine in Jharkhand is meant for JSPL's captive power plant and IIP by Gagan Sponge. The Ramchandi mine in Odisha is for its coal-to-liquid project.
