India: Inter-Ministerial Group reviews coal blocks allocation issues

Monday, September 03, 2012
New Delhi: The 4tth meeting of the Inter Ministerial Group (IMG) constituted for periodic review of coal blocks was held today to deliberate upon the replies to show cause notices issued to coal block allocatees on account of slippages in attainment of milestones for development of coal block including bank guarantee.

The IMG has fixed a schedule for meeting on 6th, 7th and 8th September, 2012 during which allocatees will be given an opportunity to be heard and present the reasons for delay, if any. The latest progress as reported by the Coal Controller will also be taken into account before recommending on the action against the coal block allocatees.

The group has also firmed up the guidelines for proportionate deduction of Bank Guarantees (BG) for failure to achieve mile stones for development of the block.
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