Inter-ministerial group for penalising Tata Power, Hindalco Industries for delay in coal block

NEW DELHI: An official panel on Monday decided to penalise Tata Power and Hindalco Industries for delay in developing a coal block in Jharkhand owned jointly by the companies, sources said.

The inter-ministerial group (IMG) reviewing coal block progress took a decision to deduct bank guarantees of the two companies for slow progress at Tubed coal block with 189 million tonne reserves, the sources said.

The panel will meet again on Tuesday to take decisions on about five coal blocks, the sources said.