Coal Ministry issues show-cause notices to 2 more firms

The Coal Ministry today issued show-cause notices to two firms, Jindal Steel and Power Limited (JSPL) and Tenughat Vidyut Nigam Limited, for not developing coal blocks allocated to them within the stipulated time-frame.

The notices were issued to the companies for not beginning production from RamChandi Promotional CTL Block and Badam coal blocks respectively, according to the Coal Ministry. The crackdown is part of the government’s exercise to ensure that the allocated blocks do not remain unproductive.

The development comes close on the heels of the Coal Ministry issuing show-cause notices to 23 firms, including SAIL, Monnet Ispat, NTPCBSE -0.86 % and GVK Power earlier this month for not developing the mines alloted to them for captive use.

Last year, CAG in a report had estimated likely financial gains of Rs 1.86 lakh crore to accrue to private firms on account of mines allocation without auction.

(Agency)

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