Coal Block Auction : Govt. Of India Reject Bids Of JSPL , BLCO For Alleged Cartelisation

21 March, New Delhi

The Union Government has rejected the bids of Jindal Steel and Power Ltd and Balco, amid speculation of cartelisation during the auction of Coal blocks held recently.

In a tweet Coal Secretary Anil Swarup said that that the government was re-examining the bids for nine recently auctioned Coal blocks, including JSPL and Balco. Both the companies emerged top bidders.

However, bids for five blocks have been accepted, Swarup tweeted. Swarup had earlier insisted that the government wasn’t looking at cartelisation aspect at the moment.

There had been reports that some bidders could have indulged in cartelisation to keep the prices low for the concerned mines.