Coal block auction: Under fire, Centre seeks report

June 03, 2012 14:23

Amid allegations of irregularities in coal block allocation, the government has asked credit rating agency Crisil to submit a report within three months on the methodology to determine the reserve price for auction of 54 mines it has identified for allocation.

The coal ministry has identified 54 coal blocks a few days ago for various sectors, including 16 for power, 12 for steel and 12 for government firms among others.

"We have given the offer letter to Crisil and asked it to provide us a report within three months on the methodology of fixing the reserve price of blocks to be auctioned," a source close to the development said.

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