#Delhi: #JindalSteel and #Power, controlled by former lawmaker #NaveenJindal and one of the biggest beneficiaries of the previous method of coal block allocation that the Supreme Court ruled illegal, has now become the biggest loser with three of its bids rejected. (Reuters)
The government has cancelled bids of Jindal Steel and Power (#JSPL) and #BALCO for four coal blocks amid speculation of cartelisation and said it will take a final decision on these mines after deliberations.
“Department (Coal ministry) will take the final decision on the rejected bids, it will deliberate and then decide,” Coal and Power Minister Piyush Goyal said today. When asked whether these blocks will be re-auctioned or allotted to Coal India, Goyal said the department will take a call on it. He was speaking on the sidelines of an event of Indian Chambers of Commerce. The Coal Ministry, had late last night, rejected the bids of Jindal Steel and Power Ltd (JSPL) and Balco for four blocks amid reports of speculation of cartelisation during the recent coal block auction.
The government was re-examining the bids for nine coal blocks, including those where Jindal Steel & Power (JSPL) and Balco emerged top bidders in the recently held auction. “Bids for Gare Palma IV/1, IV/2, IV/3 and Tara coal blocks not accepted,” Coal Secretary Anil Swarup had tweeted early on Saturday. Government takes decision on bids for 9 coal blocks after examination. Bids for 5 blocks accepted
Bureau Report
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