Govt may issue deallocation letters to Cos this week
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Govt may issue deallocation letters to Cos this week

Last Updated: Monday, December 2, 2013, 19:12
 
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Govt may issue deallocation letters to Cos this week
New Delhi: The Coal Ministry is planning to begin issuing deallocation letters to firms like Jindal Steel and Power Ltd and Rathi Udyog this week.

"The Coal Ministry is planning to begin issuing deallocation letter to companies like JSPL and Rathi Udyoy, this week," an official said.

The companies had to face the ire of coal ministry for delaying the production from the mines allocated to them and a decision was taken to deallocate their blocks.

The Ministry recently decided to take back 11 blocks given to companies, including Jindal Steel and Power Ltd (JSPL) and Rathi Udyog Ltd.

The inter-ministerial group (IMG) on coal blocks after reviewing the performance of 30 coal blocks had earlier recommended deallocation of 11 blocks.

"In the case of another 19 mines, the IMG has recommended either imposition or deduction of bank guarantee," a source had earlier said.

Coal blocks, which were recommended for deallocation, include Ramchandi Promotional block.

These coal blocks were earlier issued show cause notices for delaying production.

The Ministry had in October asked the coal block allottees to make presentation before the IMG on achievement of milestones and reasons for delays.

The firms which were asked to make presentation include, Steel Authority of India Ltd (SAIL), NTPC Ltd, JSPL and Tata Power.

JSPL was asked to make presentation with regard to delaying production from its four coal blocks -- Amarkunda Murgadangal in Jharkhand, Utkal B1 and Ramchandi Promotional block in Odisha and Urtan North in Madhya Pradesh. SAIL was asked to make presentation for Sitanala mine in Jharkhand, and NTPC for Parki Barwadih mine in Jharkhand and Talaipalli mine in Chhattisgarh.

The government had formed the IMG last year to review the progress of coal blocks allocated to firms for captive use and recommend action, including de-allocation. The panel under the chairmanship of additional secretary in the coal ministry has members from other ministries, including steel and power.



PTI

First Published: Monday, December 2, 2013, 19:12


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