HC indicates early decision in Jindal Power coal auction case

Govt officials say with this development, they hope the case will be disposed by February-end

Jindal Power Ltd has got a minor breather from the Delhi High Court in the matter of the two coal blocks it had bid for in the e-auction of 2015; the bid was rejected over the low rate quoted.

The bank guarantee given for the two blocks is due to expire by the middle of next month. JPL has asked the HC to let it withdraw the guarantee. The amounts for Tara (in Bengal) and Gare Palma IV/2&3 (in Jharkhand) are Rs 13.73 crore and Rs 11.82 crore, respectively.

The e-auction of blocks in 2015 was held to re-allocate those cancelled earlier