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IMG to take decision on 14 coal blocks on Monday

New Delhi, Nov. 18 (ANI): The Inter-Ministerial Group (IMG) is likely to meet on Monday to take a decision on about 14 coal blocks allocated to public sector units (PSUs).

The IMG had examined 33 coal blocks allocated to PSUs on October 9 and 10, which were issued notices for delays in production.

The panel had recommended de-allocation of eight such blocks after scrutiny of 19 cases of public sector firms earlier this month.

The government has already accepted the de-allocation of 13 blocks to private firms as recommended by the IMG, and has also asked for the imposition of bank guarantees in six cases and deduction in two cases.

A total of 58 mines were issued show-cause notices for their failure to develop blocks within stipulated timeframe and failed to give satisfactory explanations for that.

The government had formed the IMG in July to review progress of coal blocks allocated to firms for captive use.

The CAG had estimated that undue benefits to the tune of Rs 1.86 lakh crore might accrue to private firms on account of allocation of 57 mines to them without auction. (ANI)