Latest news with #CoalMines(SpecialProvisions)Act
Business Standard
28-05-2025
- Business
- Business Standard
Board of Electrosteel Castings considers receipt of provisional compensation order from Ministry of Coal
At meeting held on 28 May 2025 The Board of Electrosteel Castings at its meeting held today i.e., on 28 May 2025 noted that the Company has received Provisional Compensation Order dated 15 May 2025 from the Ministry of Coal, Government of India in respect of compensation of Cost of Geological Report, Cost of Consent, Land and Mine Infrastructure payable to prior allottees of Parbatpur Central Coal Mine in terms of Coal Mines (Special Provisions) Act, 2015. As per the aforementioned Provisional Compensation Order, the Ministry of Coal has estimated an amount of Rs. 498.72 crore as compensation to the Company.
Time of India
27-05-2025
- Business
- Time of India
Delhi HC seeks Centre's reply on Tata Steel's Rs 757 cr Coal Block claim in Odisha
The Delhi High Court has sought response from the government on a petition by Tata Steel seeking compensation of over Rs 757 crore with interest for cancellation of the allocation of the New Paratpara Coal Block in Odisha by the Supreme Court. The court will further hear the Tata Steel's petition on September 21. The New Paratpara coal block was allocated in 2006 to erstwhile Bhushan Steel (renamed as Tata Steel BSL). Bhushan Steel was acquired under the insolvency and bankruptcy resolution process in May 2018 and subsequently amalgamated with Tata Steel from November 11, 2021. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo The petition alleged that the company had made necessary expenses towards development of the coal block, which was in 2014 cancelled by the SC. The coal block was subsequently auctioned. In terms of the provisions of the Coal Mines (Special Provisions) Act, 2015, compensation was payable to erstwhile Bhushan Steel for the expenses made towards development of the coal block in Odisha's Angul district by the subsequent allottee, which necessitated filing of a petition before the court, Tata Steel said. Live Events NLC India had last year won the auction for the significant coal block with an estimated geological reserve of 720.87 million tonnes and a peak-rated capacity of 12 million tonnes per annum.
