Coal mine auction: Centre rejects Jindal Steel, Balco bids

“Bids for Gare Palma IV/1, IV/2, IV/3 and Tara coal blocks not accepted,” Coal Secretary Anil Swarup said in a late night tweet.

The Union government has cancelled the bids of Jindal Steel and Power Ltd. (JSPL) and Bharat Aluminium Company (BALCO) for four coal blocks, putting off the final decision until after deliberations.

“The Coal Ministry will take the final decision on the rejected bids, it will deliberate and decide,” Coal and Power Minister Piyush Goyal said on Saturday.

In a late-night development on Friday, the Ministry rejected the company’s bids following reports of cartelisation during the recent coal block auction.

Speaking on the sidelines of a function of the Indian Chambers of Commerce, Mr. Goyal said the government was re-examining the bids for nine blocks, including those for which the JSPL and BALCO emerged as top bidders.

“The bids for the Gare Palma IV/1, IV/2, IV/3 and Tara coal blocks were not accepted,” Coal Secretary Anil Swarup tweeted last night.

The JSPL had emerged as the successful bidder for the Gare Palma IV/2 and IV/3 and Tara blocks and BALCO for Gare Palma IV/1. However, bids for the five other blocks were accepted, Mr. Swarup said.