CoalMin rejects TCI claim on abuse of minority stakeholders

The coal ministry on Friday finally refused to consider allegations by The Children’s Investment Fund (TCI) of abuse of minority stakeholders, terming them as “misrepresentation” of facts. The UK-based TCI is the second-largest shareholder in Coal India Ltd (CIL). This comes a day after the firm’s board decided to disapprove a contract condition that bound it to meeting 80 per cent of the coal supply commitment to power companies.

They aren’t helping themselves: TCI

British hedge fund The Children’s Investment Fund (TCI) said the Indian government’s letter invoking the risk factors of CIL’s IPO prospectus to defend its actions would not solve issues.