Tata Steel Seeks Rs 7.57 Billion Compensation for Cancelled Coal Block

29 May 2025 CW Team

Tata Steel has filed a petition in the Delhi High Court seeking compensation of ₹7.57 billion, along with interest, for the cancellation of the New Paratpara Coal Block in Odisha. The coal block, initially allocated to Bhushan Steel in 2006, was annulled by the Supreme Court in 2014 amid broader coal allocation irregularities.

Tata Steel acquired Bhushan Steel through insolvency proceedings in 2018 and merged it in 2021. Under the Coal Mines (Special Provisions) Act, 2015, the company contends it is entitled to reimbursement for development expenses incurred prior to the cancellation. The High Court has issued notices to the Union of India, the Nominated Authority under the Ministry of Coal, and the Government of Odisha, scheduling the next hearing for 21 September 2025.

Real Estate

07 May 2026

Wadhwa, Arisinfra Tie Up for Panvel Township

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Maharashtra Plans ₹600 Crore Skill Centres For Construction Workers

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NCLAT Quashes Insolvency Proceedings Against Embassy Developments

Embassy Developments Limited has announced that the Hon’ble National Company Law Appellate Tribunal (NCLAT), New Delhi, has set aside the earlier National Company Law Tribunal (NCLT) order admitting insolvency proceedings against the company, thereby quashing the Corporate Insolvency Resolution Process (CIRP).The appellate tribunal’s order overturns the NCLT ruling dated December 9, 2025, under which CIRP proceedings had been initiated against the company. With the latest ruling, all directions arising from the earlier NCLT order stand terminated and the insolvency proceedings against Emba..