Coal India to ease e-auction rules, plans to tweak allocation methodology

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Coal India to ease e-auction rules, plans to tweak allocation methodology - Business Standard

Quick Summary:

Maharatna coal behemoth Coal India Limited (CIL) on Friday said it has taken steps to ease e-auction norms like lowering the earnest money and enhancing the quantity of the dry fuel on offer.

The coal behemoth has asked all its arms barring Northern Coalfields Ltd, to spike up their offer quantity under e-auction to 40 per cent of their respective total production for the second and third quarters of this financial year.

"CIL has taken steps to ease the norms in e-auctions like lowering the earnest money deposit (EMD) and ramping up the quantities offered under the auction hammer," the PSU said in a statement.