Lockdown: CIL relaxes payment terms, reschedule e-auctions

Kolkata, Mar 26 () To protect interests of itsconsumers, Coal India Ltd on Thursday said it has relaxedpayment terms and directed the railways to defer loading ofrakes for non-power buyers due to last-mile connectivitydisruption following the nationwide lockdown.

The world's largest miner has also directed itssubsidiary companies to extend the date for payment bysuccessful bidders in e-auctions, in case it falls within thelockdown period.

"CIL is helping its non-power customers overcomelast-mile connectivity issues they are facing due to thenationwide lockout declared to contain the Covid-19 outbreak,"a top Coal India official told .

CIL has requested Indian Railways to defer coalloading of rakes for non-power consumers who do not have theirown unloading system inside their plants or have to unloadrakes at other sidings.Advertisement

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"In the prevailing situation, many non-power consumershave approached CIL requesting deferring of loading of theirallotted rakes," the official said.

The situation will be reviewed after the lockdown iswithdrawn, he said.

The official said CIL is also changing the time ofvarious e-auction schemes which were scheduled during thelockdown period.

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The Centre has recently exempted coal and mineralproduction, transportation & activities incidental to miningoperations under the Disaster Management Act and lockdown. BSMNN NN