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India's 6 Mining Firms Assets To Be Seized In A Month - Report

Mining News - Published on Tue, 25 Jun 2019

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Daily Pioneer reported that district Magistrate Ashish Thakre has passed orders to seize the assets of SD Sharma, Basudev Agarwal, BK Mohanty, BPME, Narayani Son Pvt Ltd and Faccor with the help of police and magistrates within a month and auction the properties for recovery of unpaid penalty. As many as 23 mining companies holding 31 mining leases had not paid the penalty imposed by the Supreme court for illegal mining in Keonjhar district. Hence, the district Collector had filed cases against them to attach their assets and property to recover the penalty. Only eight out of 11 lessees had responded to the notice and appeared for hearing on Saturday and presented their affidavit /pleadings on their behalf

So far, BD Pattnaik firm has paid only INR 1 crore out of imposed penalty INR 8,96,01,825. The firm has been ordered to pay the balance amount by June 29 failing which the assets/property of the company are to be seized and auctioned immediately. Sharda Mines operated by Jindal had moved to the apex court regarding the penalty calculated on them and since the matter is pending for judgment, their next date of hearing was fixed to July 12.

The OMDC, a Government of India undertaking, has paid only INR 511,79,72,727 out of total penalty INR 675,70,12,338 for which they have been ordered to pay the balance in next 45 days. The OMDC has been noticed to reappear on July 12. An Amount of INR 2,97,84,299 is to be recovered from SD Sharma, INR 871,43,77,003 to be recovered from BPME after auctioning their assets.

In the Joda Mining Circle, 28 mines held by 20 lessees were imposed a total penalty and interest amounting to Rs 6041,98,39,402 and three lessees in Keonjhar mining circle were fined Rs 308,36,19,540, for which court proceedings were initiated by the district Collector under OPDR Act-1962 and defaulter mining firms were issued notice for final hearing.

Sharda Mines, BPME, Dr Sarojini Pradhan, OMDC, BD Pattnaik, FACCOR, Narayani Sons Pvt Ltd from Joda mining circle and two lessees from Keonjhar mining circle, total 8 companies, appeared for the final hearing in Keonjhar.

In spite of court notice, Sibadutt Sharma, BK Mohanty and Basudev Agarwal failed to appear and the final hearing was done in their absence.

Source :

Posted By : Mohan Sharma on Tue, 25 Jun 2019
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