IMG to hear 8 coal block allottees on Friday

The inter-ministerial group (IMG) has begun its three-day review of the 67 coal blocks in the coal scam. CNBC-TV18's Anshu Sharma reports.

The IMG heard from the companies, which were issued show-cause notices by the ministry of coal for delay in development of the 10 blocks. Private companies like Monnet Ispat, Jayaswal Neco, Adhunik Group, Electrosteel and Usha Martin were present for the hearing amongst others. Most of the companies expressed their concern on rigid and time taking process for speedy clearances for land acquisition forest clearances amongst others.
Sandeep Jajodia, CMD, Monnet Ispat said, "We should retain the coal block because we are one of the very serious players in the industry. We have exhibited that by executing large projects. We have just completed a 1.5 million tonne steel mill at a Rs 5,000 crore expenditure. We have gone through the whole process of clearances - is extremely tedious in our country."
IMG is likely to hear 8 coal block allocates tomorrow, which may include companies like JSW Steel, Jindal Stainless Steel, JSPL and Jindal Thermal among others.