Advertisement

HindustanTimes Sat,27 Dec 2014

Coal ministry issues show cause notices to 2 more firms

PTI  New Delhi, June 17, 2013
First Published: 23:24 IST(17/6/2013) | Last Updated: 23:27 IST(17/6/2013)
The coal ministry on Monday issued show-cause notices to two firms, Jindal Steel and Power Limited (JSPL) and Tenughat Vidyut Nigam Limited, for not developing coal blocks allocated to them within the stipulated time frame.

   
The notices were issued to the companies for not beginning production from Ram Chandi Promotional CTL Block and Badam coal blocks respectively, according to the coal ministry.
    
The crackdown is part of the government's exercise to ensure that the allocated blocks do not remain unproductive.
     
The development comes close on the heels of the coal ministry issuing show-cause notices to 23 firms, including SAIL, Monnet Ispat, NTPC and GVK Power earlier this month for not developing the mines alloted to them for captive use.
 
Last year, CAG in a report had estimated likely financial gains of Rs. 1.86 lakh crore to accrue to private firms on account of mines allocation without auction.
 
The captive coal block allocation issue has taken political overtures and the CBI is also investigating it.
 
Last year, in a similar exercise, the government had issued show cause notices to 58 coal block allocattees and deallocated blocks of some developers. It also deducted bank guarantees for some others.
Advertisement

Advertisement
more from India

Assam attacks: Counter-insurgency ops intensified

India sought cooperation from Bhutan and Myanmar, as its security forces launched a major offensive against a tribal militant group that massacred over 70 people in Assam this week, officials said.
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved