The Coal Ministry has referred the examination report on bids by Jindal Power, Anil Agarwal´s Balco and BS Ispat in the recent coal auctions to an inter-ministerial committee.
The committee, consisting of representatives from the Ministries of Finance, Coal, Power, Steel, and Mines, is reviewing the report submitted by the Nominated Authority on the bids for blocks - Gare Palma IV/2&3, Gare Palma IV/1, and Marki Mangli III - as they were auctioned for very low prices. While Jindal´s bid is for the power sector, the other two are in the non-power category.
The inter-ministerial committee has already started work on it and the report is expected by Monday, an official told BusinessLine.
Asked about the reason behind sending the Nominated Authority report to an inter-ministerial committee, another official said, -´It is better to have views of all the concerned people. One has to ensure that the government is not losing revenues. When the entire auction has been done in a transparent manner, why allow this to come in the way.´
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