Coal India employees, who were barred by their unions from buying shares during the mega-IPO last year, may after all get another opportunity.
Finance Minister Arun Jaitley has said the larger interest of the public sector would be fully protected.
The government is auctioning 42 coal mines among 204 coal blocks.
An Inter-ministerial panel had last month approved 10 per cent equity sale in Coal India. At present, the government holds 90 per cent stake in the firm.
Buoyed by higher demand for crude oil and imported coal, Indian ports recorded a growth of 11 per cent in traffic during the April-June quarter of 2022-23. This shows that the economy is opening up, a report by DAM Capital said. The volume increase assumes significance since both prices of crude oil and imported coal have been soaring this year. Indian coal companies were pressed for supply amid a thermal coal crisis earlier in the year.
Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected to manage Rs 60,000 crore (Rs 600 billion) provident fund corpus of coal industry workers.
The government on Friday said that some of the coal blocks lying in the "no-go" areas, which could not be used for mining, may be shifted to the go-areas, a move to expedite clearance for ultra mega power projects.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
The Enforcement Directorate to take a "conclusive action" towards attachment of assets of those involved in coal scam.
Major corporates are staring at an uncertain future after investing substantially on their projects
A casual worker employed at the Defence Ministry was arrested on Tuesday for allegedly providing forged identity card to a key accused in petroleum ministry leaks case while police maintained that no sensitive documents were leaked or stolen from the defence ministry.
Central Bureau of Investigation Director Ranjit Sinha on Monday admitted before the Supreme Court that certain changes were made in the coalgate draft report on suggestions given by Union Law Minister Ashwani Kumar, Attorney General G E Vanahvati and the officials of PMO and Coal Ministry.
Govt went against its own recommendation of Jun 20, 2007, where along with the 2 Jindal companies, it wanted 40% coal block to go to Lanco.
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
Coal Secretary Anil Swarup has been appointed as school education secretary.
The Bharatiya Janata Party on Thursday accused the government of not cooperating with the Central Bureau of Investigation in the coal scam by dilly-dallying on sharing relevant files with the probe agency and demanded that the computers in the Prime Minister's Office, which store such information, should be seized for "data mining".
Trade unions on Tuesday began a five-day coal industry strike, terming it as the biggest industrial action for any sector since 1977.
Gautam Adani, promoter of Adani Power Ltd, has a reason to relax, even as the power arm of his group of companies continues to make losses for an eighth straight quarter.
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
Since the US, the second biggest emitter of greenhouse gases after China, has shifted in a major way to shale gas, the focus of global environmentalists' ire has fallen on India, which is the third biggest emitter, reports Darryl D'Monte.
In a serious allegation, former Coal Secretary PC Parakh had made a claim that ministers of coal were used to issuing oral orders and wanted file notings which suited them and not the "public interest".
The Coal Ministry on Monday received a total 69 applications from various PSUs
The companies are crying foul over the cancellation of 25 blocks held by 68 firms over the past two days.
Area residents and environmental groups have resisted the coal power plant ever since it was originally proposed in 2006 due to worries about land clearance and pollution
To increase gas availability for power plants, the Ministry of Petroleum and Natural Gas has taken various steps.
In partnership with different US firms, two companies belonging to Reliance Anil Dhirubhai Ambani Group (ADAG) have submitted competing bids for a single project floated by the Ministry of Coal.
The Opposition on Monday vociferously raised in the Rajya Sabha the issue of crucial files of the coal ministry going missing, alleging that it was a conspiracy to save Prime Minister Manmohan Singh in the multi-crore-coal block allocation scam being probed by the Central Bureau of Investigation.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
The Central Bureau of Investigation will question at least two former officials of the Prime Minister's Office who were involved in the processing of the file related to coal block allocation to Hindalco.
The Central Bureau of Investigation was on Tuesday directed by a special court to record statements of former Prime Minister Manmohan Singh, who was holding charge as Coal Minister in 2005, and others in a coal blocks allocation scam case allegedly involving top industrialist Kumar Mangalam Birla.
Questioning the Bharatiya Janata Party's stand, former telecom minister Arun Shourie on Saturday said Prime Minister Manmohan Singh should be allowed to make a statement on coal blocks allocation controversy and said the opposition did not gain much by stalling the Parliament over the issue.
Noticing irregularities in coking coal purchases, the Steel Ministry has set up a committee to look into the rationale behind PSUs buying more of the commodity when it is expensive, and less of it when cheaper.
The government has received 745 applications from a variety of companies for 15 power-project-linked coal blocks with estimated reserves of 3.6 billion tonnes, which can support power generation of 18,000 Mw.
Rejecting the plea, the court said the application was "vexatious" and it was apparently moved to delay the trial.
Former Coal Secretary P C Parakh, who was named by the Central Bureau of Investigation in a first information report on a coal block allocated to Hindalco, had joined three private firms after retirement, raising questions over his role in one of the companies that's now under the scanner after getting a block.
In 11 out of 29 coal mines successfully e-auctioned, a number of qualified bidders in the e-auction stage were from the same company/parent subsidiary company coalition/joint venture, CAG said.
Coal ministry officials along with senior officials from Coal India and department of disinvestment would meet with capital market regulator Securities and Exchange Board of India this month to take forward the process of listing the public sector unit.
The court fixed the matter for July 28 for order on cognisance.
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