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Coal Ministry seeks Rs 242-cr bank guarantee from Tenughat Vidyut

New Delhi: The Coal Ministry has asked Tenughat Vidyut Nigam Ltd (TVNL) to furnish a bank guarantee of Rs 241.92 crore for delaying production from one its coal mines in Jharkhand, failing which the mine

India TV News Desk [ Updated: February 05, 2014 19:17 IST ]
coal ministry seeks rs 242 cr bank guarantee from tenughat
coal ministry seeks rs 242 cr bank guarantee from tenughat vidyut

New Delhi: The Coal Ministry has asked Tenughat Vidyut Nigam Ltd (TVNL) to furnish a bank guarantee of Rs 241.92 crore for delaying production from one its coal mines in Jharkhand, failing which the mine may be deallocated.


TVNL is “directed to furnish a bank guarantee (BG) for a amount of Rs 241.92 crore to the Coal Controller's organisation within a period of three months from the date of issue of this letter, failing which the block (Rajbar (E&D) mine in Jharkhand) may be deallocated,” the Coal Ministry said in a letter dated February 4 to the Managing Director of TVNL.

The decision was taken following a recommendation of the Inter-Ministerial Group (IMG) on coal blocks.  TVNL is a Government of Jharkhand undertaking.

“IMG, recommends that the allocatee may be permitted to continue holding the block only on submission of BG...IMG further recommends that the BG may be submitted within a period of three months from the date of issue of letter in this regard failing which the block may be deallocated,” the letter said.

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