Sarda Energy & Minerals Ltd: SECL Approves Termination of Agreement with Kalyani Coal Mining Pvt. Ltd. for Kalyani Underground Coal Mines

Sarda Energy & Minerals Ltd. has announced that South Eastern Coalfields Ltd. Mining Pvt. Ltd. (SECL) has approved the request of Kalyani Coal Mining Pvt. Ltd. (KCMPL), a wholly owned subsidiary of the company, for the termination of an agreement executed between SECL and KCMPL for the re-opening, salvaging, rehabilitation, development, and operation of Kalyani Underground Coal Mines on a revenue sharing basis. The termination was due to the unviability of the project caused by changes in the mine boundary, leading to the surrender of the mine. KCMPL is currently taking necessary steps to secure the release of the security deposit.