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UK fund TCI files petition against Coal India, ministry

Reuters  |  MUMBAI  

U.K. fund The Children's Investment Fund Management (TCI) said on Wednesday it has filed a writ petition in the to quash directions in January by the coal ministry to state miner Coal India to reverse a price hike.

Coal India, the world's largest coal miner, has been under pressure from TCI, which holds about 1 percent stake in the company, after it bowed to pressure from the government in January and reversed an increase in coal prices.

has argued in its petition that coal prices are completely de-regulated and the government does not have legal authority to interfere with the discretion of Coal India, it said in a statement.

First Published: Wed, August 01 2012. 16:38 IST