Coal India Ltd., competent to fix coal prices for the non-core sector: Coal India Ltd vs M/S Rahul Industries . And Ors

In the matter of Coal Ltd vs M/S Rahul Industries and Ors.. the Supreme Court on 12 September 2025 upheld the validity of the Interim Coal Policy notified on 15 December 2006, holding that Coal India Ltd., a public sector undertaking, was competent to fix coal prices for the non-core sector under the deregulated framework of the Colliery Control Order, 2000.

A bench of Justices J.B. Pardiwala and R. Mahadevan dealt with the issue of smokeless fuel against a 20% price hike introduced under the Interim Coal Policy, the same being linked to non-core sectors against consumers in the core sector. The Court clarified that Ashoka Smokeless judgement struck down the e-auction system for lacking a viable pricing mechanism but did not reinstate prior price levels or prohibit interim pricing.

The issues lying before the Court comprised of firstly, whether Coal India Limited (CIL) had the legal authority to notify interim coal prices following the Supreme Court’s decision in Ashoka Smokeless. Secondly, whether the 20% price increase imposed on the non-core sector consumers was arbitrary, discriminatory, and in violation of Article 14 of the Constitution, particularly considering the differential treatment between core and non-core sectors. Thirdly, the question was whether the respondents were entitled to claim refunds for the alleged excess amount paid during the period when the Interim Coal Policy was in effect.

The Court found that from the above legal exposition, it is clear that if there is a concern that the party claiming a refund may have shifted the financial burden or loss to a third party, then a refund should not be allowed. In such situations, the State bears the responsibility to retain those funds and apply them for the benefit of the public, acting in its capacity as parens patriae (guardian of the public interest). The argument of the same being violative of Article 14 of the Constitution was rejected. 

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Hiring Now: Legal Manager – JM Financial Home Loans Ltd (Ahmedabad & Nashik | Apply Today)

Legal Manager | JM Financial Home Loans Ltd (Ahmedabad & Nashik)

Are you a skilled legal professional looking for an exciting opportunity with one of India’s leading financial services conglomerates? JM Financial Home Loans Ltd, part of the JM Financial Group, is hiring now for the position of Legal Manager (Non-Litigation). This is a full-time role based in Ahmedabad and Nashik, offering the right candidate the chance to work on high-value transactions, corporate legal compliance, and advisory matters within a dynamic financial services environment.

About the Organization

JM Financial Group is one of India’s most trusted and respected financial services conglomerates, with a legacy of over four decades. The group operates across diverse business verticals including investment banking, wealth management, asset management, lending, and distressed asset management. JM Financial Home Loans Ltd specifically focuses on retail lending, housing finance, and providing tailor-made credit solutions to individuals and businesses.

Known for its innovation, customer-centric approach, and governance standards, JM Financial Group has built a strong reputation in both domestic and international markets. By joining the legal team at JM Financial Home Loans Ltd, you become part of a culture that values excellence, integrity, and professional growth.

Location

Ahmedabad & Nashik, India

The role provides exposure to legal matters arising out of lending, financing, and compliance operations in these fast-growing markets. Candidates will benefit from working closely with business teams while ensuring adherence to legal and regulatory frameworks.

Position & Duration

Role: Legal Manager – Non-Litigation
Type: Full-time permanent position

This role offers long-term career growth with one of the most reputable financial services groups in India.

Eligibility Criteria

Candidates applying for the Legal Manager position must meet the following requirements:

  • LLB or LLM qualification from a recognized university
  • Prior experience in handling non-litigation legal matters (preferred but not mandatory)
  • Strong skills in drafting, compliance, and legal advisory
  • Ability to work collaboratively with internal business teams, clients, and external stakeholders
  • Good communication, analytical, and problem-solving skills

Candidates with prior experience in banking, NBFC, or housing finance legal teams will be preferred, though exceptional fresh talent with relevant skills will also be considered.

Key Responsibilities

As a Legal Manager (Non-Litigation), your day-to-day responsibilities will include:

  • Drafting and reviewing agreements, contracts, and internal legal documents for lending and financing transactions
  • Advising internal teams on compliance with applicable laws, rules, and regulations governing financial services and housing finance operations
  • Ensuring smooth coordination with business teams for documentation, contract execution, and approvals
  • Assisting in due diligence, corporate filings, and regulatory reporting where required
  • Managing relationships with external counsels, law firms, and regulatory authorities for advisory or compliance purposes
  • Preparing legal notes, opinions, and presentations for internal stakeholders
  • Keeping the organization updated with changes in laws, policies, and regulations impacting the business

The role is non-litigation focused, ensuring that the candidate works primarily on compliance, advisory, documentation, and corporate legal matters rather than litigation before courts.

Salary

Up to ₹7 LPA – based on experience, skills, and company norms.

The salary structure reflects JM Financial Group’s commitment to rewarding talent and expertise in line with industry standards. Additional benefits and growth opportunities within the group further enhance the compensation package.

Why Join JM Financial Home Loans Ltd?

Here are some compelling reasons to join the firm:

  • Opportunity to work with one of India’s most reputed financial services groups
  • Exposure to corporate, regulatory, and advisory matters in the housing finance sector
  • Structured career growth and internal mobility across JM Financial Group businesses
  • A professional environment that values innovation, compliance, and governance
  • Hands-on experience in legal processes that directly impact the financial services industry

Ideal Candidate Profile

This role is best suited for legal professionals who:

  • Possess strong legal drafting and compliance knowledge
  • Have the ability to anticipate legal risks and provide effective solutions
  • Can manage multiple tasks in a fast-paced corporate environment
  • Are team players with strong communication skills and business acumen
  • Want to grow their career in the non-litigation side of corporate law within a reputed financial services company

If you are looking for a career that blends corporate law, compliance, and financial services exposure, this is the ideal opportunity.

How to Apply

Interested candidates can apply directly by sending their updated CV to the HR team.

Email: kranti.rane@jmfl.com
Subject Line: “Application – Legal Manager (Non-Litigation), Ahmedabad/Nashik”

Applicants are encouraged to highlight their drafting, advisory, and compliance experience in their resume for better consideration.

Application Deadline

Applications are reviewed on a rolling basis. Candidates are advised to apply at the earliest to increase their chances of being shortlisted.

Final Takeaway

The Legal Manager (Non-Litigation) role at JM Financial Home Loans Ltd offers a fantastic opportunity for legal professionals to build a strong career in corporate advisory, compliance, and documentation within the financial services sector. With exposure to high-value transactions, stakeholder management, and governance-driven practices, this role provides both professional growth and stability.

If you are ready to step into a challenging and rewarding legal role with JM Financial Group, apply today and be part of an organization that values legal expertise, integrity, and innovation.


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