Coal India (CIL) today said that it is no longer interested in bidding for 57 per cent stake of Dishergarh Power Supply Company (DPSC) which had been put on the block by Andrew Yule.
A Coal India spokesman told PTI the decision had been taken by the board of the PSU.
He said that CIL had earlier expressed interest in DPSC because its subsidiary Eastern Coalfields (ECL) had been a major consumer of DPSC.
"We did not want to disturb the linkage to ECL in case there is a change in ownership. This is why we had expressed interest," he said.
But, CIL is of the view that there would be no disturbance in power linkage to DPSC irrespective of change in the ownership of the utility, whose command area included the coal belt in the Asansol-Ranigunj region.
The spokesman ruled out that the ongoing legal tangle was a cause for withdrawal.
CIL was among the 16 bidders for DPSC.
