Auction jitters

There was great commotion at the SCOPE Complex on Lodi Road, New Delhi, last week, where industry representatives had gathered for the ensuing auction of schedule II coal mines. What disturbed some of them was the fact that Gare Palma IV-7, considered the best block, was listed for bidding for the power sector (regulated sector). The situation became somewhat easy when it emerged that it was a typographical error and that the coal block was meant for unregulated sectors (steel, iron, cement and captive power). As it turned out, Gare Palma IV-7 received the highest number of bids (16) among the 23 coal blocks on offer.