By Our Correspondent
BHUBANESWAR: Rungta Sons Private Limited, a subsidiary of Jharkhand’s Chaibasa Headquarters, Rungta Mines Ltd and SR Rungta Group, which had bid highest for Chendipada Coal Block in Odisha Angul district, having Geological Reserves of 513.09 (MT), got a major relief after Delhi High Court dismissed Jindal Steel & Power’s petition seeking quashing of the grant.
RSPL which had emerged as the highest bidder in a February 28 e-auction for commercial coal mines, now likely to start operation after completing all legal formalities.
After losing Chhendipada (revised) coal block to Rungta Sons Pvt Ltd , JSP had moved the HC saying it was wrongly and unfairly prevented from submitting its next higher bid. A division bench comprising Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad rejected JSPL’s plea for seeking a second auction.
JSPL claimed that technical glitches on the MSTC portal during the e-auction on February 27 had prevented it from submitting a higher bid for the mine that has 513 million tonnes of geological reserves.
The auction which had started for the block at a floor price of 4% and closed at 13% with Rungta Sons Pvt Ltd bidding the highest and emerged as top contender for the coal block in Odisha.
Rungta Sons Pvt Ltd had also won Geological Reserves of 500 MT Sakhigopal B Kankili Coal Block in Odisha while committing to pay 6.50%.
