UK fund files petition against Coal India, ministry

MUMBAI Wed Aug 1, 2012 7:04am EDT

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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.

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