Auction of nearly operational coal mines from next week: HC

The Centre today informed the Delhi High Court that it has revised its schedule for auction of nearly operational coal mines and the bidding process is now set to begin next week.
In view of the submission, a bench of justices B D Ahmed and Sanjeev Sachdeva listed the pleas of Bhushan Power and Steel Ltd (BPSL) and Monet Ispat and Energy Ltd, which have challenged the two-phase auction process, to February 27.
The schedule was re-worked by the Coal Ministry after the court had yesterday said it has to give a detailed hearing to the petitions, which have also challenged the tender rules of eliminating 50 per cent of the players in round one of the auction, and there was no urgency as far as nearly operational mines are concerned.

According to ministry officials, the auction process was scheduled to begin tomorrow.
Yesterday, BPSL had opposed the government's decision to classify end-use of Jhamkhani coal block in Odisha for non-regulated sector, saying the move went against the 2014 coal ordinance provisions.
Maintaining that such a decision has in many cases led to the aluminium industry "cornering" the mines, BPSL had said this was in contravention of the coal ordinance which states that core sectors -- power, iron and steel and cement -- needed to be protected and aluminium was not in this sector.
BPSL and Monet have challenged the two-round financial bidding process under the ongoing coal auction, saying such a method was "arbitrary and irrational" as the ordinance and the rules under it did not provide for such a procedure.