<p>Order of the National Green Tribunal (Eastern Zone Bench, Kolkata) in the matter of Ajay Rajak Vs Ministry of Coal & Others dated 04/07/2023.</p> <p>The matter is related to illegal coal mines
Government auditor CAG on Friday said private firms were likely to gain Rs 1.86 lakh crore from coal blocks that were allocated to them on nomination basis instead of competitive bidding, which will result in a loss to the national exchequer. The CAG in its report, tabled in Parliament, names 25 companies including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power which have got the blocks in various States.
The development comes ahead of CIL's board meeting to approve FSA with power companies Coal India (CIL) has agreed to certain changes in the fuel supply pact to be entered with state-nominated agencies. "Model Fuel Supply Agreement (FSA) applicable for state-nominated agencies has been agreed by CIL in its meeting," the PSU firm said in a letter to its subsidiary firms including Eastern Coalfields, Central Coalfields and Western Coalfields among others.
Prime Minister’s adviser TKA Nair met coal minister Sriprakash Jaiswal to discuss on how the government should deal with the fallout of the CAG reports on coal block allocation, after they are tabled in
Coal India (CIL) has agreed to certain changes in the fuel supply pact to be entered with state—nominated agencies. “Model Fuel Supply Agreement (FSA) applicable for state— nominated agencies has been
NEW DELHI: Coal India (CIL) board is likely to meet early next week to approve the model fuel supply agreements ( FSA) for supply of coal to power firms with significant changes, including the penalty
As per the compensation formula approved by the CIL board, the company will pay a penalty of 1.5% for coal supply levels between 80% and 65% to power firms. Supplies between 65% and 60% will attract a penalty of 5%, 60% and 55% would attract 10% penalty; 55-50% will have 20% penalty and below 50% supplies will attract 40% penalty. The new rates are higher than 0.01% penalty approved by CIL board earlier for entering into FSA with power projects getting commissioned upto December 31, 2011. However, the amount of compensation likely to be paid by CIL would remain on the lower side as expected levels of coal shortfall would only attract the lower band of the penalty.
State-run Coal India (CIL) has given in to pressure from the Prime Minister’s Office (PMO) and the coal ministry and on Tuesday agreed to pay up a sizeable penalty if it fails to supply the contracted
The increase in corruption in coal is closely linked to the increasing importance of this mineral in the economy and of the industry in political funding. And the rot in coal runs deep and wide, reports
The coal ministry has halved the production targets of captive coalmines owned by the private as well as public sector companies, a decision that is likely to exacerbate the shortage of the fuel supply
Grid collapse points to enduring neglect of infrastructure in power sector. Last week, about half of India or roughly 10 per cent of the world’s population, suddenly found they had no electricity. A failure
