UK fund files petition against Coal India, ministry
MUMBAI Aug 1 (Reuters) - U.K. fund The Children's Investment Fund Management (TCI) said on Wednesday it has filed a writ petition in the Delhi High Court 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.
TCI 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.
- Police hunt for motive as search for Malaysian jet spans hemispheres |
- Crimeans vote over 90 percent to quit Ukraine for Russia |
- Ukraine, Russia agree Crimea truce until March 21-Ukraine minister
- 'Good night': Haunting final contact from missing Malaysian jet |
- Malaysian PM says lost airliner was diverted deliberately |