<p>Letters for deallocation of 13 private coal blocks to their owners are likely to be sent soon after the Law Ministry gives its go-ahead, Coal Minister Sriprakash Jaiswal said today.<br /><br /></p>.<p>These blocks were advised to be cancelled by the Inter-ministerial Group (IMG) as companies failed to develop them within the stipulated time.<br /><br />"We are waiting to get the Law Ministry approval for the deallocation letters for 13 blocks. We are expecting it anytime soon," Jaiswal said.<br /><br />As these letters are legal documents, the Coal Ministry thought it would be in order to take the Law Ministry's feedback before sending them to the defaulters, he said.<br /><br />"The Coal Controller has also been asked to calculate the value of the bank guarantee that has to be deducted," Jaiswal said.<br /><br />The ministry has also engaged the Coal Controller for calculating the amount to be deducted from the bank guarantees given by the companies.<br /><br />The government has decided to deduct the value of the bank guarantee equivalent to the royalty paid every year for delay in production.<br /><br />Jaiswal said that the IMG on coal blocks was likely to meet on November 5-6 to decide the fate of 33 coal blocks allocated to public sector firms which have been issued notices for delay in production.<br /><br />In September, the government had accepted recommendations of the IMG, which had suggested de-allocation of 13 mines and deduction of bank guarantees of 14 allottees.<br />A total of 58 mines were issued show cause notices for their failure to develop blocks within stipulated timeline.<br /><br />The government had formed the IMG in July to review the progress of coal blocks allocated to companies for captive use.</p>
<p>Letters for deallocation of 13 private coal blocks to their owners are likely to be sent soon after the Law Ministry gives its go-ahead, Coal Minister Sriprakash Jaiswal said today.<br /><br /></p>.<p>These blocks were advised to be cancelled by the Inter-ministerial Group (IMG) as companies failed to develop them within the stipulated time.<br /><br />"We are waiting to get the Law Ministry approval for the deallocation letters for 13 blocks. We are expecting it anytime soon," Jaiswal said.<br /><br />As these letters are legal documents, the Coal Ministry thought it would be in order to take the Law Ministry's feedback before sending them to the defaulters, he said.<br /><br />"The Coal Controller has also been asked to calculate the value of the bank guarantee that has to be deducted," Jaiswal said.<br /><br />The ministry has also engaged the Coal Controller for calculating the amount to be deducted from the bank guarantees given by the companies.<br /><br />The government has decided to deduct the value of the bank guarantee equivalent to the royalty paid every year for delay in production.<br /><br />Jaiswal said that the IMG on coal blocks was likely to meet on November 5-6 to decide the fate of 33 coal blocks allocated to public sector firms which have been issued notices for delay in production.<br /><br />In September, the government had accepted recommendations of the IMG, which had suggested de-allocation of 13 mines and deduction of bank guarantees of 14 allottees.<br />A total of 58 mines were issued show cause notices for their failure to develop blocks within stipulated timeline.<br /><br />The government had formed the IMG in July to review the progress of coal blocks allocated to companies for captive use.</p>