IMG report on 29 coal blocks on Wednesday

The inter-ministerial group (IMG) on the allocation of coal blocks will decide the fate of 29 mines given to companies such as Jindal Steel and Power and Reliance Power on September 12 when it meets again.  It will review the progress made in development of the mines that have been allocated to these private power companies.

“The next meeting of the IMG will be held on September 12 to deliberate and finalise its recommendations in respect of allotees companies which made presentations before it,” a government statement said here on Monday.

“The panel undertook the review of the blocks from September 6-8. Presentations were made by the 29 of those who have been allocated coal blocks in reply to show cause notices issued to them for failure to develop the blocks as per stipulated timeframe,” the statement said.

According to the statement, the allottees were asked to provide documents indicating the current status duly certified by the authorised representative besides the details of investment made vis-a-vis the plans for developing the blocks certified by chartered accountant.

They were also required to submit investment details in respect of end-use plant, the statement said adding  the self certification as per chartered accountant certificate and physical progress reported by the companies was taken on record and the authorised representatives were given an opportunity to be heard by the IMG.

To facilitate further deliberations the IMG said that the coal controller (Ministry of Coal) will provide a status paper for each case including history of previous reviews and action.

The IMG meeting is being held against the backdrop of the Comptroller and Auditor General of India(CAG) estimating that private companies are expected to make undue gains to the extent of  `1.86 lakh crore as the government did not conduct auctions while allotting mines to them.