The Supreme Court on Wednesday agreed to hear Essar Power MP’s plea against the government decision to invoke its bank guarantee worth Rs 200 crore, but said would not call upon the Centre to return the guarantee while the hearing was on.
The top court will also hear the company’s plea to return the Tokisud North coal mine in Jharkhand.
Last month, the Ministry of Coal had issued notices to Essar Power and GMR Energy to confiscate their bank guarantees worth up to Rs 900 crore following a judgment by the Delhi High Court rejecting the companies’ petition to surrender their coal blocks. The two companies had submitted these bank guarantees for the coal mines they won in an auction in 2015-16.
