THE COAL MINES (Nationalisation) Act, 1973, is an expropriatory legislation and does not relate to trade and commerce of coal, and thus does not protect Coal India (CIL) from the competition laws, the counsel for the Competition Commission of India (CCI) said in the Supreme Court on Wednesday.
Addressing the bench of Justices KM Joseph, BV Nagarathna and Ahsanuddin Amanullah, the CCI maintained that the CIL is working with a profit motive and is not serving any "common good" when it has been "unilaterally fixing the terms of Fuel Supply Agreements (FSA) with different power companies."
"Section 54 of the Competition Act, 2002, provides for exemptions and the government has exercised its power in two cases, but has not exempted Coal India from application of the competition law," the CCI counsel noted.
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