SC's coal judgment will set up a transparent system: CII

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New Delhi, Aug 26: The Confederation of Indian Industry (CII) on Monday said the Supreme Court's judgment on coal block allocation will help usher in a transparent system of allocation of natural resources.

"We are sure that the Supreme Court will take into consideration cases where production has begun and investments have been made while giving its verdict on the blocks," CII Director General Chandrajit Banerjee said.

The Supreme Court said all coal block allocations done since 1993 were illegal

The move towards bringing in a transparent system of allocation is welcome and we appreciate a decision on this crucial issue, he said.

Earlier in the day, the Supreme Court ruled that all coal block allocations done since 1993 were illegal. The final decision on the fate of these blocks is likely to be taken on September 1.

The apex court, which examined the allocation of 218 blocks, said, "Common good and public interest have, thus, suffered heavily" as "there was no fair and transparent procedure, all resulting in unfair distribution of the national wealth".

PTI

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