Sarda Energy & Minerals Limited (SARDAEN) has announced that its wholly-owned subsidiary, Kalyani Coal Mining Pvt. Ltd. (KCMPL), has had its request for termination of an agreement with South Eastern Coalfields Ltd. (SECL) approved. The agreement, which was for the re-opening, salvaging, rehabilitation, development, and operation of the Kalyani Underground Coal Mines on a revenue-sharing basis, is being terminated at KCMPL's request. KCMPL sought termination and surrender of the mine due to the project's unviability, citing changes in the mine boundary as the reason. The subsidiary is now undertaking the necessary procedures to secure the release of its security deposit.
