Quashing of 214 coal blocks 'first effective blow' to crony: Sharad Yadav

New Delhi: JD (U) on Wednesday welcomed the Supreme Court's decision to quash the allocation of 214 of the 218 coal blocks allotted since 1993 and said it was the first effective blow to "crony capitalism".

"I welcome it. This is the first effective blow to expanding crony capitalism.

"After this order, action should be taken against politicians, bureaucrats and all others who are found guilty in the coal-block allocation scam," JD(U) president Sharad Yadav said.

SC today quashed allocation of 214 coal blocks allotted since 1993. The apex court has granted six months' "breathing time" to the companies whose blocks have been cancelled to wind up their operations in the coal blocks.

Coal blocks allocated to PSU-SAIL, NTPC and two for Ultra Mega Power Projects were the four allotments, which were spared.