Ministry of Coal issue show cause notice with regard to Kerendari B&C coal block
A show cause notice dated 21 June 2016 has been issued by the Ministry of Coal with regard to the Kerendari B&C coal block allocated to Jharkhand Integrated Power, a wholly owned subsidiary of Reliance Power, for the Tilaiya Ultra Mega Power Project (UMPP). The same has not been received by Reliance Power till now.Reliance Power terminated the PPA for Talaiya UMPP entered into with 18 procurers, vide notice dated 28 April 2016. The PPA termination was due to prolonged delay in fulfilment of the procurers' development period obligation in respect of land for power plant and coal mine for more than 5 and half years.
The Company will submit a detailed response to the new show cause notice to Ministry of Coal in due course.
Powered by Capital Market - Live News
