CNBC TV18 reported that the Inter Ministerial Group of Indian government on coal will meet on July 3 to review to development coal blocks.

Headed by Coal Ministry’s additional secretary Ms Zohra Chatterjee, the IMG includes the secretary of power, steel law and DIPP.

Sources say that the IMG may consider replies to the show cause notices served on 58 coal block allottees. Furthermore, it can consider action against the companies, such as de-allocation of the blocks.

Currently, 20 coal blocks are de-allocated.

Sources also say the IMG may deliberate and recommend principles on de-allocation of the blocks.

The IMG was formed by the coal ministry to formally decide on de allocating the non performing blocks or forfeiting the Bank Guarantees of the companies which have done nothing to develop the block after allocation.

Source - CNBC TV18

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