According to coal ministry officials, the Bill is likely to be introduced in the Lok Sabha on Wednesday. The Coal Mines (Special Provisions) Ordinance, 2014 was brought in October this year in the wake of the Supreme Court's decision cancelling 214 coal blocks.
To offset the impact of high import costs, the Planning Commission has said that CIL should adopt a pooling formula on prices by combining rates of imported and domestic coal.
Team Anna on Saturday clubbed Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee with 13 other cabinet ministers, whom they accused of corruption, which the Congress dismissed as "unsubstantiated averments" that need not be responded to.
Says Coal India is ready to sign at 80% trigger level, with 15% imported coal on cost-plus model.
Many power firms, including NTPC -- the largest consumer of Coal India -- have refused to sign the supply pacts as they are opposed to certain clauses like minimum assured supply and the penalty to be paid by the state-owned coal producer, in case it fails to meet the commitment.
The blocks are Kunur mine in West Bengal, Morga South A, Morga South B, Meguli mines and Phutamera in Chhattisgarh, Dahegaon Dhapewada and Kalambi Kalmeshwar blocks in Maharashtra, Karanpura Mahuamilan mine in Jharkhand.
The government on Friday said the auction of explored coal blocks may take place either by December or the beginning of the next year.
The government on Friday asked three firms, Tenughat Vidyut Nigam, Andhra Pradesh Power Generation Corp and Jharkhand State Mineral Development Corp, to begin production from coal blocks allocated to them for captive use without further delay.
Besides the jail term, the special court also imposed a fine of Rs 25 lakh on Koda and Rs one lakh on Gupta.
Koda, Basu and two accused public servants conspired to favour VISUL in the coal block allocation, the agency alleged.
RINL, whose two coking coal blocks in Jharkhand -- Mahal allocated in 2005 and Tenughat-Jhirki allocated in 2008 -- were de-allocated by the Coal Ministry at the beginning of this month, had earlier requested permission to surrender these blocks in lieu of two alternative blocks in the region.
Ministry seeks more active role by state governments to address issues.
Their coal block bids may be referred to CCI.
PSU, other govt bodies told to explain delay on developing the concessions for years.
Indian and Canada are looking at exploring more opportunities in the mining sector.
Once seen as a spokesman of the government on internal security matters, Sriprakash Jaiswal was on Wednesday elevated to Cabinet rank and retained in the coal ministry. A three-time Lok Sabha member from Kanpur, Jaiswal's elevation to the Cabinet rank comes at a time when elections are scheduled in Uttar Pradesh, where he served as the state unit chief of the Congress. He has shed the portfolio of statistics and programme implementation.
Euphoric about India's biggest IPO, possibly to garner up to Rs 15,000 crore, from the world's largest coal producer CIL, Coal Minister Sriprakash Jaiswal on Friday said October is an "auspicious" month to launch the issue.
The government on Wednesday expressed disappointment over a French company snapping up Mahatma Gandhi's Johannesburg house, through Sotheby's auction firm, but said it will continue efforts to acquire the heritage property through a public sector company."The matter concerns national sentiment and I will leave no stone unturned to acquire the historic property and declare it a national monument," said Union Coal Minister Sriprakash Jaiswal.
Coal India employees, who were barred by their unions from buying shares during the mega-IPO last year, may after all get another opportunity.
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An advocate on Thursday moved the Supreme Court seeking directions to the Central Bureau of Investigation to name Prime Minister Manmohan Singh in its FIR filed against industrialist Kumar Mangalam Birla and former Coal Secretary P C Parakh in a coal block allocation case.
There is a strong hint that the proposed IPO will be of 11 per cent instead of the earlier plan of 15 per cent (10 per cent public, 2 per cent employees and 3 per cent land losers).
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.
Former minister of state for coal Dasari Narayan Rao, an accused in Jharkhand's Amarkonda Murgadangal coal block allocation scam case, on Tuesday said that decisions to allocate coal blocks were taken by then Prime Minister Manmohan Singh, who was also heading the coal ministry at that time.
Special court was that Manmohan Singh took the "ultimate decision" as the then coal minister in allocation of the blocks.
"We are in interactions with the Ministry of Steel for SAIL, we are in interactions with the Coal Ministry on Coal India. On BSNL also, we are in interaction with the IT and Communication Ministry."
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
Asserting that there is nothing wrong in allocation of coal blocks, former Union Coal Secretary Prakash Chandra Parakh on Wednesday said if the Central Bureau of Investigation considers a conspiracy in this case then Prime Minister Dr Manmohan Singh should be held equally responsible being the final decision maker.
As of now, only Indian power, steel and cement companies can mine coal for their own consumption.
The court will pronounce the order on quantum of sentence on May 22.
The company has already received the coal ministry's nod to reduce the face value of its shares to Rs 10 from Rs 1,000 at present.
CAG audit is likely to be completed in six months.
The Ministry of Finance may seek the Union Cabinet's approval for the proposed 10 per cent stake sale in state-owned Coal India Ltd by the end of this month, a senior Coal Ministry official said
The government may offload a maximum of 10 per cent of its stake in the state-run firm. Currently, its holdings in CIL stands at 100 per cent.
A change in recommendation in favour of Birla did certainly happen but the question is whether it was a bona fide decision. Jyoti Mukul reports
Former Coal Secretary H C Gupta, who resigned as member of Competition Commission of India, was on Thursday questioned by the Central Bureau of Investigation in connection with coal blocks allocation from 2006 to 2009 during his tenure.
The government has threatened to cancel the coal block alloted jointly to ArcelorMittal and GVK Power in Jharkhand for the inordinate delay in developing the property.
As it wants to put a sizeable number of shares in the market and also offer them to employees and farmers displaced by its mines.
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.
Coal ministry says Sasan coal cannot be used for other plant.
Main opposition Bharatiya Janata Party on Monday once again targeted Prime Minister Manmohan Singh in Rajya Sabha on missing files pertaining to coal mines allocation saying the scam is "monumental" and demanded that he clarify on it.
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