The earlier attempt at its auction had received a bid of Rs 1.09 crore as against the then reserve price of Rs 152 crore.
The government may also re-auction the blocks sent for re-examination to derive true value of the blocks. However, it has been learnt that the government is yet to decide on re-auctioning blocks sent for re-examination.
The production target set from the captive coal blocks in FY 2013-14 was 50 million tonnes (MT), a source close to the development said.
According to Prasad Baji Edelweiss Financial Services one could expect a penalty of Rs 2500 crore to be imposed on Jindal Steel and Power Limited (JSPL) and one-time penalty of around Rs 800 crore on Hindalco.
During the hearing, Rohatgi said like the 40 operational mines, there are six others which are "absolutely in readiness" to be operational for end use plant and if the verdict has to be strictly followed "all have to be cancelled with one stroke of brush".