Last week, defending the Centre in its coal-block allocations, Goolam Vahanvati, the government’s top law officer, told the Supreme Court that companies had invested Rs 2,00,000 crore in their captive blocks. Some industry players have been citing this figure as the financial cost of a complete cancellation of licences. But ET calculations on the estimated cost of developing a mine, and the possible alternatives to cancellation before serious players, suggest this figure might be an overstatement.
m rajshekhar
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