The government issued a presidential directive to Coal India to enter into fuel supply agreements (FSAs) with power plants for a capacity of 78,000 megawatt (MW).
The Coal Ministry's meeting with The Children's Investment Fund (TCI) over alleged violations of international treaties related to its investments in state-owned Coal India has proven to be inconclusive.
Coal India chairman and managing director Zohra Chatterji told CNBC-TV18 that the FSA document was being vetted and would be signed as soon as possible
In an interview to CNBC-TV18, Oscar Veldhuijzen, Partner, The Children's Investment Fund says that TCI plans to launch legal action against Coal India and have instructed its lawyers luthra & Luthra to begin legal process against CIL.
Government has issued Presidential Directive for Coal India (CIL), reports CNBC-TV18, quoting sources.
Coal minister Sriprakash Jaiswal spoke to CNBC-TV18's Anshu Sharma about the impact and various aspects of the Presidential directive ordering Coal India to sign FSAs with power companies.
Power companies have reasons to cheer as the Government of India has directed Coal India to sign the fuel supply pacts with the power producers at the 80% trigger level, reports CNBC-TV18 quoting sources