Eastern Coalfields Ltd (ECL) is out of the ambit of BIFR (Board of Industrial and Financial Reconstruction) as the company swung into profit four years ago, after several years of losses, the company said in a statement.
After coming out of BIFR, the company will take economic decisions on its own, ECL Chairman-cum-Managing Director Rakesh Sinha said. Earlier, the coal company had to get permissions on financial matters from many places.
The coal mines of ECL are located in West Bengal and Jharkhand. Now, the company is working with automatic machines.
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