GOCL Corporation update on business with Coal India

GOCL Corporation announced that Coal India (CIL) in a letter dated 2July 2024 to IDL Explosives (IDL), a wholly owned subsidiary of the Company, has communicated IDL being barred for award of any contract / order by CIL or its subsidiaries for a period of two years. However, this will not affect the current running contracts (RC) which are effective up to May'25 for supply of cartridge explosives and accessories; and up to October'25 for supply of bulk explosives respectively. This action was due to not meeting a tender condition of stipulated local content in the supplies.