CoalMin seeks explanation from JSW, Tata Steel, others

Tags: News
The Coal Ministry has issued show-cause to eight firms including Hindalco Industries and Mahanadi Coalfields, and sought explanation from five firms such as JSW Steel, Tata Steel and Power Finance Corp, for delays in commencing production from mines allocated to them.

"You are hereby called upon to show cause, on each milestone separately to this ministry...As to why delay in the development of the coal block(s) should not be held as violation of terms and conditions of the allocation...And why the block should not be deallocated," the coal ministry said in show-cause notice letter to firms.

The ministry further said that if the companies fail to give reasons for the delays, "it would be presumed that the company has no explanation to offer and action as appropriate would be taken against your company(ies) for deallocation".

The eight companies issued show-cause notices include Mahanadi Coalfields Ltd, Hindalco Industries, Neyveli Lignite Corp for Talbira II and III coal blocks. In the case of the Talabira coal block in Odisha, CBI had in October lodged a case against industrialist Kumar Mangalam Birla and former Coal Secretary P C Parekh for alleged irregularities in allocation of mine eight years back.

The notice has also been issued to Ispat Godavari Ltd, Ind-Agro Synergy Ltd, Nakoda Ispat, Vandana Global, Shree Bajrang Power & Ispat Ltd for delaying the production from Nakia I & II coal blocks.

In letters to five firms -- JSW Steel Ltd, Bhushan Power and Steel Ltd, Jaibalaji Industries, Tata Steel and Power Finance Corp -- the coal ministry said "You are hereby called upon to explain...The reasons for slow progress as well as the efforts made by you in development of coal block (s) failing which it would be presumed that your company(ies) has no explanation to offer and action as appropriate would be taken."

The ministry sought explanation from JSW Steel Ltd, Bhushan Power and Steel Ltd, Jaibalaji Industries for slow progress in respect of Rohne coal block, Tata Steel for Kotre-Basantpur and Pachmo coal blocks and Power Finance Corp for Meenakshi, Meenakshi and Dipside Meenakshi coal blocks.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Amit Shah deserved to be crowned President of India, some say

    The Bharatiya Janata Party is now firmly in the hands of Modi’s alter ego, which in plain English means ‘another side of oneself, a second self’

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Necessary yet inadequate boost to education

The finance minister, in the very first minutes of his ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture