ibnlive » India

Nov 20, 2012 at 06:50am IST

IMG to meet today to decide fate of 14 coal mines allotted to public sector firms

New Delhi: The Inter Ministerial Group (IMG) is likely to meet on Tuesday to decide the fate of 14 more mines allotted to public sector firms. The IMG had recommended de-allocation of eight coal blocks allotted to PSUs earlier this month. The government had accepted IMG's recommendation of de-allocation of 13 mines.

The IMG was formed by the government to review progress of coal blocks allocated to firms. Meanwhile, the Supreme Court will be hearing a PIL asking for a status report of the investigation into the coal scam.

The IMG on October 9 and 10 had examined 33 coal blocks allocated to public sector firms which were issued notices for delay in production. The panel has already concluded the scrutiny of 31 coal blocks allotted to 51 private firms and last month the government had accepted its recommendations for de-allocation of 13 mines and deduction of bank guarantees of 14 allottees.

IMG to meet today to decide fate of 14 coal mines

The IMG on October 9 and 10 had examined 33 coal blocks allocated to public sector firms which were issued notices for delay in production.

A total of 58 mines were issued show-cause notices for their failure to develop blocks within stipulated timeline. The government had formed the IMG in July to review progress of coal blocks allocated to firms for captive use.

The CAG had estimated that undue benefits to the tune of Rs 1.86 lakh crore might accrue to private firms on account of allocation of 57 mines to them without auction.

With additional information from PTI

  • 5
  • 14
  • 3

Latest