Coal India subsidiary asks customers to extend validity of bank guarantees
KOLKATA: Coal IndiaNSE -0.56 % subsidiary, South Eastern Coalfields has asked bidders lifting coal under special forward e-auction for power — phase 3, 2019-20, to extend validity of earnest money deposit submitted in the form of bank guarantees since last dates of advance payments were extended during the lockdown.
In a letter, the subsidiary has asked customers to further extend validity of bank guarantees in case the advance payment dates are further extended.
“Consumers have to ensure extension of validity of their bank guarantees in accordance to any further extension in lifting period of coal delivery orders,” the letter mentions.
