In a 110-page draft report which The Times of India called “explosive” and “mind-boggling”, the Indian coal giant squandered a potential benefit of 10.7 trillion rupees by handing over 155 coal blocks without auction between 2004 and 2009.

According to The Times, the state auditor says this loss is a conservative estimate as it factors prices for the lowest coal grade rather than the median grade.

The news comes as The Hindu announced Coal India’s intentions to meet next week to consider the signing of new fuel supply agreements.

The paper said the company would discuss the issue of future deals with higher “trigger points” for penalties due to supply failures.

Contracts with higher trigger points would impose stricter supply burdens on the company which would result in increased risk of supply failure penalties.

The Hindu reports that many Coal India directors are uncomfortable with the idea of the new supply agreements, saying the company would never be able to meet its commitments.