Coal auction: Govt to reject two bids of JSPL

India Infoline News Service | Mumbai | March 17, 2015 10:16 IST

The government has decided to re-examine bids for some coal blocks auctioned in Schedule 3 on the grounds of bid timing and amount

Coal-and-shovel
The government is expected to reject two bids from Jindal Steel and Power Ltd (JSPL) for Gare Palma and Tara coal blocks, according to a media report.

Auctions for 34 blocks were completed last week with state governments expected to get Rs 2.13 trillion, including royalty, from these mines over the next 30 years.

The government has decided to re-examine bids for some coal blocks auctioned in Schedule 3 on the grounds of bid timing and amount. Among these blocks included two blocks won by JSPL, the report added.

An inter-ministerial committee is ready with its findings on the two blocks won by JSPL. The committee has cited "very low" bids and cartelization reasons in its findings and a decision would be taken at the ministerial level, the report further said. 

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