SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nominated authority to re-examine the bid process of 3 blocks

02 Mar 2015 Evaluate

Amid the claims of devising a transparent e-auction process through which all the coal blocks are being allocated, the government has told the nominated authority in charge of e-auctioning coal blocks to re-examine the bid process for the Gare Palma IV/1, Gare Palma IV 2&3 and Marki Mangli III blocks, following certain “prima facie discrepancies” including questions over the bid prices.

The companies impacted are Balco, JSPL and BS Ispat, while Balco had bagged Gare Palma IV/1 block with a bid of Rs 1,585 a tonne Jindal Power, a subsidiary of Jindal Steel and Power, had retained its previously held blocks Gare Palma IV 2 & 3 at Rs 108 a tonne. BS Ispat has won the Marki Mangli III block at Rs 918 per tonne. These four mines are among the 19 operational blocks the government auctioned off in the first phase of e-auction.

The auctions for 19 blocks were completed by February 22, but the final agreements are yet to be signed and if some tampering is found in the bid process, the blocks may be re-auctioned.

Meanwhile, the coal ministry has received 107 applications from different public sector undertakings for allocation of 43 coal blocks to be given to state-run firms. Of the 43 mines, 42 are for power sector and one is for steel sector.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: