Sunflag Iron & Steel emerges as highest bidder for coal block in Maharashtra
Sunflag Iron & Steel Company emerged as the highest bidder for a coal block in Maharashtra by agreeing to part with 9% revenue, while a two-month old firm quoted the highest 75.5% for another mine in Jharkhand on day two of ongoing e-auctions of coal mines for commercial use.
The bid by Kolkata-based firm Shreesatya Mines Private Ltd for partially explored Rauta Closed mine in Jharkhand is the highest so far by any company in both rounds of commercial coal auctions. Data available with the corporate affairs ministry showed that Shreesatya Mines Private Ltd was incorporated on June 7 this year.
