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English Release 22-August 2014
Date Month Year
  • President's Secretariat
  • President of India to visit West Bengal on August 23 and 24
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  • Vice President's Secretariat
  • Delegation of Gujjar and Bakkarwal Youths from Jammu & Kashmir Calls on Vice President
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  • PM condoles the passing away of Shri UR Ananthamurthy
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  • Shri Saurabh Patel, Minister, Govt of Gujarat, calls on PM
  • Governor of Andhra Pradesh and Telangana calls on PM
  • PM's address at the Conference of Chairmen of Boards of Governors, and Directors of IITs at Rashtrapati Bhawan
  • Min of Agriculture
  • Kharif Sowing Crosses 935.06 Lakh Hectare Mark
  • Ministry of Finance
  • Auction for Sale (Re-Issue) of Government Stocks
  • Min of Health and Family Welfare
  • 589 Passengers Being Tracked for Ebola Virus Disease
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  • Home Minister Reviews Uttar Pradesh Flood Situation
  • Min of Information & Broadcasting
  • Government committed to development of North Eastern Region
  • Doordarshan to host ABU-ROBOCON 2014 International Contest at Pune from 22nd-26th August, 2014
  • Min of Micro,Small & Medium Enterprises
  • The Minister of MSME holds interactive Conference with State Industries/ MSME Ministers and Secretaries.
  • Min of Minority Affairs
  • J&K Vichar Manch Delegation Calls on Dr. Najma A. Heptulla
  • 2-Member Bahai Delegation Calls on Dr. Najma A. Heptulla
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  • Government Committed to Strengthen Domestic Manufacturing in Solar Sector Says Shri Piyush Goyal
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  • Regarding Civil Services Examination, 2015
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  • Production Performance Oil & Natural Gas Sector for the month of July, 2014
  • Global crude oil price of Indian Basket decreased to US$ 99.97 per bbl on 21.08.2014
  • Ministry of Railways
  • Railway Minister Gives Away Cash Award to Railway Sportspersons for Winning Medals at CWG-2014, Glasgow
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  • Government to Increase Funding for Research –Dr.Jitendra Singh
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  • Min of Social Justice & Empowerment
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  • Ministry of Tourism
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  • Storage Status of 85 Important Reservoirs of the Country as on August 21, 2014
  • Ghagra and Rapti Flowing in High Flood Situation

Previous Date

 
Ministry of Coal26-November, 2012 17:09 IST
Deduction of bank guarantees of coal companies

In pursuance of the announcement of the Finance Minister in the budget speech for the year 2012-13, an Inter-Ministerial Group (IMG) headed by Additional Secretary, Ministry of Coal has been constituted on 21.06.2012 to undertake periodic review of the development of coal / lignite blocks allotted by the Government. The terms of reference (TOR) of the IMG are:

i) The IMG shall undertake periodic review and the progress of allocated coal mines / blocks and make recommendations on action to be taken including de-allocations, if required.

ii) The IMG may consider the replies where the show cause notices have been given and recommend action against the allocate companies including de-allocation, wherever necessary.

iii) The IMG may make its own assessment and recommend action as to deduction of Bank Guarantee, if required.

iv) Any matter where a reference is made by the Competent Authority.

The IMG took up for review, the 58 cases where the show cause notices were issued consequent to the Review / recommendations by the Review Committee held on 11th & 12 January, 2012. In addition the cases where a decision was taken, on the basis of earlier reviews, to deduct BG and were pending were also taken up.

The IMG has held 17 meetings so far. The IMG has discussed and finalized the guidelines/modalities for conduct of its business and also regarding computation of deduction of BG. The IMG has also decided to give an opportunity of giving personal hearing to all the allocatee companies of coal blocks before giving its recommendations. With respect to the allocations made to the Private Companies, the IMG has recommended de-allocation of 13 coal blocks allocated to 29 companies, deduction of Bank Guarantee in the cases of 14 blocks allocated to 19 companies and imposition of BG in case of 1 coal block. No action has been recommended in cases of 3 coal blocks allocated to 2 companies. The recommendations of the IMG have been accepted by the Competent Authority and action is initiated accordingly. Further, the IMG took up the cases of PSUs and after hearing the allocatees,the IMG recommended deallocation of 11 blocks,deduction of BG in 5 cases ,imposition of BG in 11 cases and no action in 6 cases including 3 cases on account of Court orders. The recommendations are under consideration of the Government.

This information was given by the Minister of State in the Ministry of Coal, Shri Pratik Prakashbapu Patil in a written reply in Rajya sabha today.

*****


NCJ/ RV
(Release ID :89445)

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