Coal News We love to talk!

MAY 28 2013

Showcause notices to 30 coal block allottees next month

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 28th MAY 2013

The Coal Ministry will begin issuing showcause notices next month to 30 captive mine allottees, including NTPC, Jindal Steel and Power, Tata Steel and SAIL, for delay in development of their respective blocks, sources said.

"Everything is ready and the Coal Ministry will begin issuing notices to 30 coal block allottees which include NTPC, SAIL and Tata Steel, in June, sources close to the development said.

An inter-ministerial group (IMG) took the decision on the same in its meeting this month, they said.

The developers would be given up to a months time to respond as to why their blocks should not get cancelled owing to delays in the development of their respective blocks.

Of the 30 blocks, for which showcause notices would be issued, four blocks belong to Jindal Steel and Powers Utkal B1, Ramchandi Promotional Block, Amarkunda Murgadangal and Urtan North (jointly with Monnet Ispat and Energy).

Pakri Barwadih and Talaipalli blocks allocated to NTPC and North of Akrapal block given to Tata Steel for coal-to- liquid project also fall in the list, the sources said.

Besides, three blocks Brinda, Sasai and Meral of Abhijeet Infrastructure, one block (Sitanala) of SAIL, one block (Tokisud North) of GVK Power (Goindwal Sahib) would also be issued notices, the sources said.

The crackdown is part of governments exercise to ensure that allotted blocks do not remain unproductive for long.

The proposed move is significant as last year countrys top auditor CAG in a report had estimated undue benefits to the tune of Rs 1.86 lakh crore to private players on account of coal blocks allocation to them without resorting to auction.

Earlier in a similar exercise, the government had issued show cause notices to 58 coal block allottees and de-allocated blocks of some developers. It also deducted bank guarantees for some others.

Tags

Steel Authority of India Ltd. Monnet Ispat & Energy Ltd Comptroller and Auditor General Coal NTPC Ltd Energy Inter Ministerial Group SAIL Power

Related News

  • NTPC awaits land identification for 4,000 MW Telangana plant  Read more
  • Coal block reallotment hits Bengal-EMTA wall  Read more
  • Govt advises RINL to foray into renewable energy, reduce dependence on fossil fuels  Read more
  • ESSAR OIL RECORDS HIGHEST EVER CP GRM AT $7.86/BBL FOR Q2 FY13  Read more
  • India, Japan to deepen energy ties; Piyush Goyal invites investment  Read more
  • Important decisions await NTPCs board approval  Read more
  • Deutsche Bank sees solar winning coal in India by 2019-20  Read more
  • Declining trend in coal stock position at power plants in FY17  Read more
  • Kudankulam Nuclear Power Project generates 188 MW on sunday  Read more
  • Tata Power arm buys wind farm in State  Read more