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Lockdown: CIL relaxes payment terms, reschedule e-auctions

Disaster Accident

Press Trust of India  |  Kolkata 

To protect interests of its

consumers, Coal India Ltd on Thursday said it has relaxed payment terms and directed the railways to defer loading of rakes for non-power buyers due to last-mile connectivity disruption following the nationwide lockdown.

The world's largest miner has also directed its subsidiary companies to extend the date for payment by successful bidders in e-auctions, in case it falls within the lockdown period.

"CIL is helping its non-power customers overcome last-mile connectivity issues they are facing due to the nationwide lockout declared to contain the Covid-19 outbreak," a top Coal India official told PTI.

CIL has requested Indian Railways to defer coal loading of rakes for non-power consumers who do not have their own unloading system inside their plants or have to unload rakes at other sidings.

"In the prevailing situation, many non-power consumers have approached CIL requesting deferring of loading of their allotted rakes," the official said.

The situation will be reviewed after the lockdown is withdrawn, he said.

The official said CIL is also changing the time of various e-auction schemes which were scheduled during the lockdown period.

The Centre has recently exempted coal and mineral production, transportation & activities incidental to mining operations under the Disaster Management Act and lockdown.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 26 2020. 19:30 IST