Unlocking Potential of Idle Financial Assets in India (See 'Corp Brief') SARFAESI - In absence of any adjudication by the DRT in determining the debt, statutory scheme permits reliance upon claim made by secured creditor for purpose of fixing pre-deposit: HC (See 'Legal Desk') CCI okays acquisition of shares in Nxtra Data by Alpha Wave Ventures (See 'Corp Brief') CCI okays acquisition of 21% voting interest in Astemo Ltd. by Honda Motor (See 'Corp Brief') FEMA - Claims & liabilities pertaining to periods prior to approval of resolution plan, which do not survive under approved plan, are extinguished & cannot be enforced: SAFEMA (See 'Legal Desk') Special Drive launched for expeditious Disposal of Long-Pending Labour Cases (See 'Corp Brief') Amit Shah to launch NAFED's auction portal 'NAFEX.in' (See 'Corp Brief') SEBI - A judicial pronouncement cannot ordinarily be modified or reviewed through post-disposal miscellaneous application; Tribunal becomes functus officio upon disposal of appeal: SAT (See 'Legal Desk') Railways approves Kavach Deployment Worth Rs.270 Crore on East Coast (See 'Corp Brief') DIBD and AISF sign MoU to promote Language Technology and Multilingual Innovation in Assam (See 'Corp Brief') IPR - Injunction allowed as defendant's adoption of marks is not honest or bona fide; marks are deceptively similar to plaintiff's registered trademark, such that an average consumer with imperfect recollection would likely be confused: HC (See 'Legal Desk') NMDC accelerates Digitalisation and Sustainable Mining to support 100 MTPA Vision (See 'Corp Brief') Union Minister sanctions over 42,000 houses in MP; 38,000 families perform grih pravesh (See 'Corp Brief') A&C - Where a Section 34 court has already examined the award, a possible alternative interpretation of the contractual clause is insufficient to justify interference: HC (See 'Legal Desk') Tech Innovation and disruption in Construction Industry (See 'CORP EINSICHT') Union Minister reviews Power Sector and Urban Development Schemes with Jharkhand Govt (See 'Corp Brief') APEDA facilitates First Export of fresh Uttarakhand Litchi to Italy (See 'Corp Brief') Trade Marks - Quasi-judicial authority cannot validly base its decision on grounds that were not specifically disclosed in SCN, thereby depriving noticee of an effective opportunity to respond: HC (See 'Legal Desk') Nadda calls for Push towards a TB-Free India (See 'Corp Brief') India must take control of security-related necessities to remain future-ready: RM (See 'Corp Brief') A&C - Financial hardship cannot justify payment of disputed amount linked to fulfilment of deliverable-based obligations: HC (See 'Legal Desk')

Print

Coal Ministry inks agreement with bidders of eight coal mines

Published: Sep 23, 2021

By TIOLCorplaws News Service

NEW DELHI, SEPT 23, 2021: TODAY, Ministry of Coal executed agreements with the eight successful bidders pursuant to the auction of second tranche of coal mines for commercial mining (Tranche 12 under CMSP Act and Tranche 2 under MMDR Act). While addressing the successful bidders, Union Minister of Coal, Mines and Parliamentary Affairs, Mr Pralhad Joshi congratulated them for their successful participation in the auction process. The Minister stressed that the Government of India and the Ministry of Coal are on a continuous journey to reform the coal sector and unlock values for the nation's economy. The success of these auctions will help in further strengthening the vision of an Aatmanirbhar Bharat as it willhelp reduce India's coal imports, the Minister added. Eight coal mines have been successfully auctioned with the winning percentage of revenue share ranging from 6% to 75.5% with an average % revenue share of 30%.The electronic auction of these mines was conducted in the first week of August this year. SBI Capital Markets Limited, sole Transaction Advisor to Ministry of Coal for the Commercial coal mine auction, had devised the methodology and assisted Ministry in conduct of the auction. The mines for which these Coal Mine/ Block Production and Development Agreements were executed are Bhaskarpara, Burakhap Small Patch, Gondkhari, Jogeshwar& KhasJogeshwar, Rauta Closed Mine, Bhivkund, Jhigador and Khargaon. The Successful Bidders include Sunflag Iron & Steel Company Limited, South West Pinnacle Exploration Limited, Prakash Industries Limited, CG Natural Resources Private Limited, Adani Power Maharashtra Limited and Shreesatya Mines Pvt Ltd.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.