The Coal Ministry will rake in approximately Rs. 900 crore from Essar and GMR for non-performance after bagging coal blocks in the first auction round held in 2015.
This follows the Delhi High Court’s dismissal of petitions filed by Essar and GMR seeking a refund of the bank guarantees deposited by them, as they were not being allowed to pass through higher bid amounts to the consumers.
GMR Chhattisgarh Energy Ltd (GCEL) had won the Ganeshpur and Talabira coal mines while Essar Power Madhya Pradesh had won the Tokisud North coal block.
