Sunflag Iron emerges as highest bidder for coal block in Maharashtra

Sunflag Iron & Steel Company has emerged as the highest bidder for a coal block in Maharashtra by agreeing to part with 9% revenue. The bid by Kolkata-based firm Shreesatya Mines Pvt Ltd for partially explored Rauta Closed mine in Jharkhand is the highest so far by any company in both rounds of commercial coal auctions. Shreesatya was incorporated on June 7 this year.