Sarda Energy & Minerals said the company has deposited Rs 1.22 billion as an additional levy with the coal controller. The company has now become eligible to participate in the coal block auction process as payment of additional levy was a precondition for participating in the coal block auction process.

This payment has been made without prejudice to company's rights to seek remedy/ redressal from appropriate forums, it added.
 
Shares of the company gained Rs 4.55, or 2.36%, to settle at Rs 197.60. The total volume of shares traded was 14,308 at the BSE (Thursday).