TCI VS COAL INDIA
Hedge fund shareholder demands Coal India be managed differently
The low pricing of coal is leading to a loss of Rs 95,000 crore every year.
Coal prices are lower for the benefit of electricity consumers.
Government is abusing the rights of minority shareholders under the garb of public interest.
Always mentioned in the IPO prospectus that the Government would direct pricing if a key sector like power was in need of reforms.
Raising dividend to 90 per cent of profits will benefit both the Government and minority shareholders.
Profits have gone up in the current financial year and they have already been given a larger dividend.
It is incorrect to perceive that there is an abuse of minority shareholders.
SRIPRAKASH JAISWAL Coal Minister