The revision to the Coal Mines (Nationalisation) Act of 1973 would allow domestic and international enterprises to participate in the coal block allocation case process. The revised legislation, which would make auctions mandatory for the distribution of coal blocks after 2010, would leave no room for the administrative power to be biassed or ...
WhatsApp: +86 18838072829June 2012: Coal ministry forms an interministerial panel to review the process of allocation of blocks and to decide either on deallocations or forfeiture of bank guarantees. The government has ...
WhatsApp: +86 18838072829India: The Coal Ministry has begun the process of allotment of mines to central and state public sector units, starting with the allotment of 36 coal blocks. The Supreme Court had in September 2014 scrapped all but four of 218 coal blocks allocated by the government over the past two decades, in a tougherthanexpected ruling that sank shares of companies that have invested heavily in projects ...
WhatsApp: +86 18838072829The government of India in the coal block case was questioned for going beyond their powers as given by the statutes which govern the coal and natural resources mining in India. The government wrongly took initiative of allocation of coal blocks without any auction. ... The whole process of allocation of coal blocks has been a huge example of ...
WhatsApp: +86 18838072829However Mr Gupta maintains he had no involvement in IST Steel and denies influencing the coalblock allocation process. Allegations against Naveen Jindal Congress MP, Naveen Jindal's Jindal Steel and Power got a coal field in February 2009 with reserves of 1500 million metric tones while the governmentrun Navratna Coal India Ltd was refused.
WhatsApp: +86 18838072829The legal framework for allocation of cancelled coal blocks was provided through the Coal Mines (Special Provisions) Act, 2015 (preceded by the two Ordinances in October 2014 and ... also provided for fixation of a ceiling price for power sector coal mines, which was to be Coal India Limited (CIL) notified price for the equivalent grade of coal ...
WhatsApp: +86 18838072829The Coalgate Scam was unearthed by the CAG report on allocations of coal blocks. CAG report alleged that a loss of Rs. lakh crore was caused to the exchequer because of a nontransparent and discretionary allocation process. The beneficiaries of the scam are private players who have made windfall gains and have received highly valuable natural resources at almost free of cost.
WhatsApp: +86 18838072829Check out for the latest news on coal block allocation cases along with coal block allocation cases live news at Times of India
WhatsApp: +86 18838072829Panem, for mining coal even from the forest areas of the Coal Block. 6. Till 2014, there was no problem. However, on 25th August 2014, this Court in the case of Manohar Lal SharmaI, held that the entire allocation of Coal Blocks made between 1993 and 2011, except those which were made through competitive
WhatsApp: +86 18838072829Allocation process was arbitrary, discretionary and nontransparent. There was no consideration of Merit, no Price discovery mechanism for national resources. Till now, the PSU, Coal India was the only commercial miner in the country for more than four decades which has shown monopolistic tendencies in the sector. Monopoly in mining sector was ...
WhatsApp: +86 18838072829Coal mining in India. India is rich in ancient coal fields like Gondwana coalfields (250 million years old) and tertiary coalfields (1560 million years old). Coal mining was started during the rule of the East India Company in 1774 in the Raniganj coalfield along the western bank of the Damodar river. To increase coal production, the focus of ...
WhatsApp: +86 1883807282912 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] NOW, THEREFORE, in exercise of the powers conferred by subsection (1) of section 13 and clause ... These rules may be called the Coal Blocks Allocation Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. ... Allocation process.— (1 ...
WhatsApp: +86 18838072829The officials recommended that the word "transparent" should be inserted before the sentence "competitive bidding process" in the Coal Block Allocation Rules of 2017, which state that ...
WhatsApp: +86 18838072829The Coal Blocks Allocation Rules, 2017 is to notify that the Ministru of Coal deferred indefinitely the fifth round of captive coal block auctions citing lack of demand from steelmakers, despite a request from the steel ministry to continue the bidding for interested firms. ... The process of auction of coal blocks shall be conducted through ...
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WhatsApp: +86 18838072829The Coal Block Allocation Rules, 2017 were also enacted to pave the way for competitive bidding of coal blocks. As recently as June 2020, the Central government initiated auction of 41 coal blocks leading to an investment potential of Rs. 33,000 crore of capital investments over the coming years apart from allowing hundred percent foreign ...
WhatsApp: +86 18838072829Coal Allocation: The full story. Coal mines in India are being opened for commercial mining for the very first time. While launching the auction process, the Prime Minister said coal mining will pave the way for development in the tribaldominated areas. But many experts believe that it will lead to natural calamities, displacement, and pollution.
WhatsApp: +86 18838072829Vinod Rai (2014) details the manner in which a politicised allocation process came into being and subverted the preexisting policy process. The salient features of the coal block allocation episode are as follows. Before the reforms, Coal India Limited (CIL) a public sector firm, held monopoly over coal production, as per the Coal Mines ...
WhatsApp: +86 188380728291. Short title and commencement. (1) These rules may be called the Coal Blocks Allocation Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. 2. Definitions. (1) In these rules, unless the context otherwise requires, . (a) "Act" means the Mines and Minerals (Development and Regulation) Act ...
WhatsApp: +86 18838072829Now, the sector has been opened up for commercial coal mining by private players in 2020 and first ever successful auction of commercial mining was launched by the Hon'ble Prime Minister on and concluded with allocation of 19 coal mines. Commercial coal block auctions are conducted in a twostage online bidding process, which ...
WhatsApp: +86 18838072829The coal blocks allocation cases are among the CBI's longest running probes, with the agency last registering a fresh FIR in the case in January 2020. ... government decided to allocate such coal blocks to private companies that were not part of the production plan of PSUs Coal India Ltd and Singareni Collieries Company Limited (SCCL ...
WhatsApp: +86 18838072829Timeline of events related to captive coal block allocation in India 2 Figure 2: Summary of cancelled coal blocks and proposed allocations 6 Figure 3: Enduse classification of coal blocks by ...
WhatsApp: +86 18838072829Earlier this week, Lok Sabha passed the Bill that provides for the allocation of coal mines that were cancelled by the Supreme Court last year. In light of this development, this post looks at the issues surrounding coal block allocations and what the 2015 Bill seeks to achieve.
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