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

The IMG, the letter said, said that it is a regionally explored block and yet more than six years have elapsed from the date of allotment.

The prospecting licence was granted on May 14, 2010. There was no progress in the development of coal block and all milestones were pending.

The company had applied for the block for the proposed expansion of its power plant in the state of Jharkhand in which an investment of Rs 10.35 crore was reported.

Out of this, Rs 9.28 crore had been spent on exploration and preparation of GR (Geological Reserves). The normative date for start of production was May, 2012, it added.

The government had formed the IMG in 2012 to review progress of coal blocks allocated to firms for captive use.