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English Release 31-October 2014
Date Month Year
  • President's Secretariat
  • Education will be the single biggest transformative factor in catapulting India into the league of developed nations, says President
  • President of India congratulates Pankaj Advani on achieving 12th world title in Leeds
  • President pays floral tributes to Sardar Vallabhbhai Patel
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  • Text of PM’s address at 'Run For Unity' at Rajpath on the occasion of Rashtriya Ekta Diwas
  • PM receives personal belongings of Sardar Patel, on his 139th birth anniversary
  • Sidelights – Run For Unity Event at Rajpath, New Delhi
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  • Election Commission
  • General Election to Legislative Assemblies of Jharkhand and Jammu & Kashmir 2014 - Allotment of Broadcast/Telecast time to Political Parties – regarding
  • Min of Agriculture
  • Kharif Rice Area Coverage
  • Min of Commerce & Industry
  • Index of Eight Core Industries (Base: 2004-05=100), September, 2014
  • Department of Commerce calls for creative participation for India’s participation at Hannover Messe
  • Min of Defence
  • Minor Incident Involving Naval Ship
  • Indian Warships Visit to Port Louis
  • Ministry of Finance
  • Auction for Sale (Re-Issue) of Government Stocks
  • Major Focus of the Government is to Bring Back the Growth Momentum: Finance Minister
  • Auction for Sale (Re-Issue ) of ‘8.30 per cent Government Stock, 2040’
  • Auction for Sale of a new Government Stock of 19 Years
  • Auction for Sale (Re-Issue ) of ‘8.60 per cent Government Stock, 2028’
  • Auction for Sale (Re-Issue) of ‘8.27 per cent Government Stock, 2020’
  • Subash Chandra Garg Relieved to take up His New Assignment As Executive Director, World Bank, Washington D.C.
  • Rajiv Mehrishi takes over as Secretry, Department of Economic Affairs, Ministry of Finance
  • Min of Health and Family Welfare
  • MoU with Spain on organ transplantation soon
  • Min of Home Affairs
  • MoS Home Kiren Rijiju participates in ‘Run for Unity’
  • Text of Home Minister's speech at NPA, Hyderabad
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  • Home Secretary Administers Rashtriya Ekta Diwas Pledge
  • “Police Stations should become Temples of Justice,” says Rajnath Singh
  • Min of Human Resource Development
  • 2nd Meeting of SAARC Education Ministers Held
  • Min of Parliamentary Affairs
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  • Min of Personnel, Public Grievances & Pensions
  • Central Armed Police Forces (Assistant Commandants) Examination, 2014 Declaration of Result of Written Part
  • Min of Petroleum & Natural Gas
  • Constitution of Steering Committee for successful implementation of “Make in India” campaign in the Oil and Gas Industry.
  • Global crude oil price of Indian Basket was US$ 84.77 per bbl on 30.10.2014
  • Ministry of Railways
  • Railway Protection Force hosting 15th All Indian Police Band Competition
  • Min of Road Transport & Highways
  • Institute of Driving Training & Research to be inaugurated tomorrow at Pune
  • Electronic Toll Collection System makes Delhi-Mumbai Drive Faster and Cheaper
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on October 30, 2014
  • Min of Women and Child Development
  • SRB to be raised by 10 basis points every year

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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