A Timely Warning to Crony Capitalists

The development once again emphasises the need for the ethical conduct of governance

Industry bodies have described the court order as ‘too harsh’. This assessment is not off the mark as the country’s largest lender, State Bank of India, alone has lent around Rs 4,000 crore to power plants that were put up based on coal from the cancelled coal blocks.

The development once again emphasises the need for the ethical conduct of governance. The Government should work out transparent guidelines for the allocation of natural resources so that the economy is spared such shocks in the future.