Govt cancels bids of JSPL, Balco for 4 coal blocks

The government has cancelled bids of Jindal Steel and Power and BALCO for four coal blocks amid speculation of cartelisation and said it will take a final decision on these mines after deliberations.
"Department (Coal ministry) will take the final decision on the rejected bids, it will deliberate and then decide," Coal and Power Minister Piyush Goyal said today.
The Coal Ministry, had late last night, rejected the bids of Jindal Steel and Power Ltd (JSPL) and Balco for four blocks amid reports of speculation of cartelisation during the recent coal block auction.
When asked whether these blocks will be re-auctioned or allotted to Coal India, Goyal said the department will take a call on it.

He was speaking on the sidelines of an event of Indian Chambers of Commerce.
The government was re-examining the bids for nine coal blocks, including those where Jindal Steel & Power (JSPL) and Balco emerged top bidders in the recently held auction.

"Bids for Gare Palma IV/1, IV/2, IV/3 and Tara coal blocks not accepted," Coal Secretary Anil Swarup had tweeted last night.
Jindal Power had emerged as successful bidder for Gare IV/2, Gare Palma IV/3 and Tara coal blocks, while Bharat Aluminium Company (Balco) had successfully bid for Gare Palma IV/1 coal block.
However, bids for five other blocks have been accepted, Swarup said.