The Supreme Court today held that all coal block allocations made since 1993 till 2010 beforepre-auction era during previous NDA and UPA regimes have been done in an illegal manner by an "ad-hoc and casual" approach"without application of mind".
However, the consequences arising from the verdict of such coal blocks will be considered after further hearing by theapex court.
Reacting to the order, here's what some of the ministers and former ministers said:
Coal and Power Minister Piyush Goyal: Welcoming the Supreme Court judgementas ending of uncertainty, Coal and Power Minister Piyush Goyalsaid that the government is ready to act quickly once thecourt delivers its final view on the coal mines allocation,which it has declared illegal."The government is awaiting Supreme Court to deliver itsfinal view on how the mines "illegally" allocated between 1993and 2010 should be treated," he said.
"The fact that this has brought to finality and closure adispute or problem that has been for many years ... (It is) abig plus for the Indian economy. I think in fact they shouldhave been immensely pleased that the economy can now moveforward rapidly rather being cast with the shadow ofuncertainty," he said.
Goyal said the clarity of law in policy and certainty offuture are the "hallmarks of a good economy and will be likedby the investor community", with coal sector poised forprogress after being in "limbo" for long.
Congress leader Manish Tewari:Theformer Union Minister said "their stand has been vindicated as this is precisely what the Congress has been saying."He said the process followed between 2004 and 2009 was same that was being followed between 1993 and 2004."Therefore, if the Supreme Court has come to a conclusion with regards to the entire period between 1993 to 2009 and the conclusion is uniform in nature, it obviously vindicates what we are saying," he said.
Former coal secretary PC Parakh: Parakh said that the allotting body had no legal basis but hoped that the apex court wouldn't cancel all the coal blocks allotted. "The screening committee had no legal basis," Parakh said in a exclusive interview withCNN-IBN.
However, Parakh said he hoped that the court wouldn't cancel the allocations as it would have a far reaching impact on the nation's economy.
"I hope that on September 1, when the Court again hears the case, it will find some kind of a via media solution which ensures that the country's economy does not suffer...However, if all coal blocks are de-allocated wholesale it can have very serious implications for India's power sector and India's economy as a whole," he said.
CBI Director Ranjit Sinha: The CBI director told CNBC-TV18 that the CBI will continuing to probe the coal block scam. "Looking into criminality in Coal Block Allocation," he said. Sinha said that theSC's invalidation of coal block allocation distinct from CBI probe. The CBI director also said that they are closing case against Birlas.
Finance Minister Arun Jaitley: The Finance Minister said that the Supreme Court should either uphold coal block allocation or cancel it.
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Updated Date: Aug 25, 2014 20:49:14 IST