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English Release 25-July 2014
Date Month Year
  • Min of Consumer Affairs, Food & Public Distribution
  • Amendments Proposed to Make Hoarding Non-Bailable Offence
  • States Asked to Ensure Timely Payment of Sugarcane Dues to the Farmers
  • States Advised to Allow Free Movement of Fruits and Vegetables to Check Prices
  • Min of Defence
  • Stress Levels of Defence Personnel
  • Deployment of Troops by China in PoK
  • Firing Range at Tosamaidan Meadows
  • Shortage of Fighter Aircraft
  • Warship Construction Projects
  • Main Battle Tanks
  • Missile Launcher Projects
  • Attack on Fishermen
  • Depiction of Indian Territory in Map of China
  • Naval Ships and Submarines Accidents
  • Firing Ranges
  • Settlement in Border Areas
  • Compulsory Military Training
  • Domestic Production of Defence Equipment
  • Indigenous Civilian Aircraft
  • RIC at IIT, Chennai
  • Death of Soldiers in Siachen
  • Combat Exercises
  • Modernisation of Navy
  • Min of Home Affairs
  • National Foundation for Communal Harmony to host Music Concert
  • Min of Petroleum & Natural Gas
  • Production Performance of Oil & Natural Gas Sector for the month of June, 2014
  • Global crude oil price of Indian Basket increased to US$ 105.93 per bbl on 24.07.2014
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on July 24, 2014
  • Min of Women and Child Development
  • Multi-Sectoral Nutrition Programme Covering Children, Adolescent Girls & Women Launched in 200 Districts
  • NIPCCD to have two new regional centres

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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