In an interview to CNBC-TV18, Oscar Veldhuijzen, Partner, The Children's Investment Fund (TCI) says that TCI plans to launch legal action against Coal India and its board. "Presidential directive has strenthen our legal stance and we are more confident now," he said.
He further says that CIL is losing UDS 20 billion each year by selling coal below market price. "We are in the business of investing not litigating" said Oscar. Below is the edited version of the interview with CNBC-TV18. Also watch the accompanying video. Q: Are you aware of the government move of invoking Presidential directive on Coal India and Coal India about to sign those FSAs with power producers. What would be your next step? A: This will strengthen our legal case under the bilateral investment treaty between the UK and India. It is clear that the government is intervening in a diplomat way and not supporting minority shareholders in a fair way. However, itDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
