The Delhi high court on Wednesday issued notice to the Central government in a petition by Bhushan Power and Steel Ltd challenging provisions of the Coal Ordinance 2014 as well as the tender process for allotment of coal mines.
Lawyer P. Chidambaram argued that the two-stage bidding process which would eliminate 50% of the bidders after the first stage is arbitrary and the second stage does not serve any purpose.
Chidambaram also alleged the bidding process is designed in such a manner that it allows the same bidder to make multiple bids only on the ground that the bidder’s project was being built in multiple phases. This, Chidambaram argued, would prejudice Bhushan against qualifying to the second stage of the bidding process.
Bhushan has also challenged allowing steel, sponge iron, cement and other companies falling in the non-regulated sector to bid for the same mines since it allows anyone except a power producer to bid for a limited number of mines. The case will come up for hearing on 18 February.
Source: Live Mint
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.