Eastern Coalfields out of BIFR ambit

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Press Trust of India New Delhi
Last Updated : Feb 11 2015 | 7:45 PM IST
Eastern Coalfields, a subsidiary of state-run Coal India, has come out of the ambit of Board of Industrial and Financial Reconstruction.
Eastern Coalfields Ltd (ECL) is out of the ambit of BIFR (Board of Industrial and Financial Reconstruction) as the company swung into profit four years ago, after several years of losses, the company said in a statement.
After coming out of BIFR, the company will take economic decisions on its own, ECL Chairman-cum-Managing Director Rakesh Sinha said. Earlier, the coal company had to get permissions on financial matters from many places.
The coal mines of ECL are located in West Bengal and Jharkhand. Now, the company is working with automatic machines.
The company produced more than 36 million tonnes of coal in 2013-14.

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First Published: Feb 11 2015 | 7:45 PM IST

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