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IMG asks PSUs who were issued notices to make presentation

Last Updated: Tuesday, September 25, 2012 - 18:16

New Delhi: The Inter-Ministerial Group (IMG) has asked public sector firms issued notices for sitting idle on 31 coal blocks to present their side of the story for delays in developing the blocks, in the two-day review meeting likely early next month.

On October 9, public sector firms of 15 coal blocks would make their presentations, while on October 10, 16 coal block holders will make their presentations before the IMG, official sources said.

The public sector firms which will make presentations are Chhattisgarh Mineral Development Corporation, MMTC and TVNL among others.

The IMG concluded the scrutiny of 31 coal blocks of 51 private firms recently.

The Coal Ministry is likely to begin next week issuing deallocation letters to private firms whose mines were cancelled and those where bank guarantees were deducted for sitting idle on mines given to them for captive use.

So far the Coal ministry had deallocated seven coal blocks, while the government has yet to take a call on the recommendations of Inter-Ministerial Group (IMG) for deallocation of another six coal blocks.

So far the coal ministry has announced the deduction of bank guarantee of seven coal blocks.

The IMG has so far recommended deallocation of 13 coal blocks and recommended deduction of bank guarantee in cases of 14 mines.

A total of 58 mines were given show cause notices for failure to develop the blocks within stipulated timeline.

The government had formed the IMG in July to review the progress of coal blocks allocated to companies for captive use.


First Published: Tuesday, September 25, 2012 - 18:16
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