Here are the immediate impacts of the Supreme Court decision:
BREAK IN INDIA
* All but four coal blocks allocated since 1993 have been cancelled, leaving developers, banks and investors in the lurch. With the PM scheduled to visit the US Friday, the SC order may not be the best signal India gives to foreign investors.
* Power sector bears the brunt, 30,000 MW in limbo; steel and cement companies too affected.
* Total exposure of banks a staggering Rs 1 lakh crore.
* Most developers raised debt with coal blocks as collateral.
* Some small companies already defaulting on interest payments.
* Gain govt could have done without: Players with operational blocks have been asked to pay a penalty of Rs 295 per tonne of coal mined up to 2014-15, netting the govt Rs 10,000 crore.