Coal blocks of eight companies de-allocated; Arcelor Mittal, GVK, DB Power face penalties
IMG has suggested scrapping licences of 3 blocks owned by 8 cos including Electrosteel Castings Ltd, Rungta Mines & Maharashtra Seamless Ltd.
By Sarita C Singh, ET Bureau | Updated:
NEW DELHI: An official panel reviewing coal blocks development has suggested scrapping mining licences of three coal blocks owned by eight companies including Electrosteel Castings Ltd, Rungta Mines and Maharashtra Seamless Ltd.
The inter-ministerial group also recommended deduction of bank guarantee of four companies -- Arcelor Mittal, GVK Power, Jayaswal Neeco and DB Power for slippages in development of three blocks.
Till Wednesday, the IMG recommended de-allocation of 11 captive mines.
The inter-ministerial group also recommended deduction of bank guarantee of four companies -- Arcelor Mittal, GVK Power, Jayaswal Neeco and DB Power for slippages in development of three blocks.
Till Wednesday, the IMG recommended de-allocation of 11 captive mines.
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