Auto Segment
Mutual Fund Segment
My Budget
Expert Speak
In Association With
Business Standard

Coal Ministry may issue notices to 58 firms this week

Last year, Ministry had scrapped coal blocks to 6 PSUs and 3 pvt firms for not developing them

Related News

The is likely to begin this week the process of issuing show-cause notices to 58 holders, including PSUs, which have not started the development work of mines in stipulated time.

"The coal ministry is likely to issue show-cause notices to 58 coal block holders, both in public and private sector, sitting idle on them this week," a top official in the coal ministry said.

"Coal Minister Sriprakash Jaiswal gave go-ahead to the proposal yesterday," the official said.

The decision to issue show-cause notices to the firms sitting idle on captive coal blocks was taken by a panel looking into the development of reserves, sources said.

Concerned over the increasing demand-supply gap, the Ministry in January this year had reviewed the progress of mines allocated to companies, including Tata Steel, Coal India, and NTPC for captive use.

The progress of the blocks allocated to Jindal Power, Jindal Steel & Power, Balco and MMTC was also reviewed during the two-day meeting.

Last year, the Coal Ministry had cancelled allotment of 14 coal and one lignite block to six PSUs, including NTPC, and three private firms for failing to develop them.

However, in January, the government gave back six coal blocks of the deallocated mines to firms, including (DVC), Tenughat Vidyut Nigam Ltd and NTPC.

Read more on:   

Read More

Jaya govt presents tax-free budget in Tamil Nadu

The Jayalalithaa Government in Tamil Nadu today presented a tax-free budget for 2013-14, proposing 'prudent fiscal management", amidst gloomy ...

Recommended for you

Quick Links

Back to Top