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News Brief | April 2015

Coal auction: Decision on mines under lens after Inter-Ministerial Committee report

Government will decide the fate of three coal blocks won by JSPL, Balco and BS Ispat, which came under the scanner for receiving low value bids, after an Inter-Ministerial Committee report.
The final decision on these blocks will be taken after the Committee finalises its report, said Power Minister Piyush Goyal has said.
These three coal blocks - Gare-Palma-IV/2 and 3, Gare-Palma-IV/1, all in Chhattisgarh and Marki Mangli-III in Maharashtra were auctioned during the first phase.
After complaints pertaining to these mines including questions on bidding price, the government asked nominated authority to re-examine them.
The government had recently auctioned 19 coal blocks in the first tranche and 14 out of 15 in the second tranche, assuring over Rs 2 lakh crore revenue to states. Jindal Steel and Power (JSPL) was the successful bidder for Gare Palma IV 2 and Gare Palma IV 3 mines, while Balco successfully bid Gare Palma IV/1 mine and BS Ispat bagged Marki Mangli III mine.
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