Court Clears JSW Steel in Coal Block Allocation Case

In a significant legal development, JSW Steel Ltd, formerly known as Monnet Ispat, has been discharged by a court in a case concerning alleged irregularities in the allocation and operation of the Gare Palma and Rajgamar Dipside coal blocks in Chhattisgarh. The court's decision came after the adjudicating authority approved JSW's application to take over Monnet Ispat through a resolution under the insolvency & bankruptcy code.

This case is part of a series of legal battles stemming from the irregular allocation of coal blocks between 1993 and 2005. The Central Bureau of Investigation (CBI) had filed a case in September 2012, leading to the recent court order on a discharge plea filed by JSW. The company argued for immunity under the law, citing its takeover of Monnet Ispat under the code as a basis for its plea.