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Coal India gets Maharatna status

Press Trust of India  |  New Delhi 

Ltd (CIL) has been conferred the coveted status, giving the world's largest coal producer greater autonomy for taking investment decisions.

Along with CIL, Neyveli Lignite Ltd has also been awarded status, it was announced at a PSUs' function attended by President Pratibha Patil here.

Another PSU Helicopters has received Mini-ratna tag.

"I take this opportunity to compliment the management and employees of CPSEs, who have been felicitated and conferred with and status today," Patil said.

She said the honour given to these PSUs recognised their performance over the years.

Once a company gets the status, its board would not be required to take the government's permission for investments up to Rs 5,000 crore in a joint venture project or wholly-owned subsidiary. For the companies, the limit is Rs 1,000 crore.

First Published: Mon, April 11 2011. 13:28 IST