The coal ministry on Friday finally refused to consider allegations by The Children’s Investment Fund (TCI) of abuse of minority stakeholders, terming them as “misrepresentation” of facts. The UK-based TCI is the second-largest shareholder in Coal India Ltd (CIL). This comes a day after the firm’s board decided to disapprove a contract condition that bound it to meeting 80 per cent of the coal supply commitment to power companies.
They aren’t helping themselves: TCI
British hedge fund The Children’s Investment Fund (TCI) said the Indian government’s letter invoking the risk factors of CIL’s IPO prospectus to defend its actions would not solve issues.