On April 08, 2022, the Cabinet Committee on Economic Affairs has approved the Ministry of Coal’s proposal for providing a one-time window to the Central and State PSUs to surrender non-operational mines without penalty (forfeiture of bank guarantee) and without citing any reason. This may release several coal mines which the present Government PSU allottees are not in a position to develop or are disinterested and could be auctioned as per the present auction policy.
A three months’ time will be granted to the allottee Government Companies to surrender the coal mines from the date of publication of the approved surrender policy.
Source: PIB
