UK Fund says files lawsuit against Coal India directors

MUMBAI Fri Oct 12, 2012 5:26am EDT

MUMBAI Oct 12 (Reuters) - UK-based The Children's Investment Fund Management (TCI) said on Friday it has filed a lawsuit in Calcutta High Court against the directors of state miner Coal India Ltd for failing to perform their functions with care and skill.

The lawsuit also names the federal government as a party for abusing its powers as majority shareholder in Coal India, TCI said in a statement.

TCI, which owns about 1 percent of Coal India, filed a writ in Delhi High Court in August to quash directions to the miner by India's coal ministry to reverse a price hike.

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