Jindal Power moves SC, says being ‘doubly punished’, can’t pay fine

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IndiaCSR News Network

NEW DELHI : laiming it was “doubly punished” for the government’s fault, Jindal Power (JPL) on Monday moved the Supreme Court citing its inability to shell out a R1,793-crore penalty by the court-mandated deadline of December 31, reports Utkarsh Anand in New Delhi. JPL and parent Jindal Steel & Power need to pay R1,793 crore towards a R295 a tonne penalty for illegal mining.

JPL operates two coal blocks, Gare Palma IV/2 and IV/3, and JSPL has one block, Gare Palma IV/1, in Chhattisgarh. JPL said it had to pay R1,024.54 crore as additional levy with respect to its blocks Gare Palma IV/2 and IV/3.

It would have to pay R768.83 crore would be the levy with respect to coal block Gare Palma IV/, which is operated by JSPL. As per the plea, the penalty to be paid by them is the “highest among the operational coal block allottees” and it would comprise about 20% of the total additional levy sought to be collected from all operational coal blocks that stand deallocated.

In the application, which will come up for hearing on Thursday, JPL asked for a time frame of three years to make the payment in 36 equal monthly instalments, while also raising apprehensions it may have to close down a few plants if the court does not allow its prayer. It had also pleaded for permission to participate in the future auction of the coal blocks without getting disqualified on the basis of not paying the levy by the deadline.

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