London-based hedge fund The Children's Investment Fund (TCI) today said it would explore the remedies available in the India-UK bilateral treaty against the Union Government.
"We will invoke the bilateral treaty as it's faster," Chris Hohn, founder of TCI told a TV channel today. Hohn said the fund will begin the process this week and is not using the Indian court system as it "may take years."
Last week, TCI wrote to the government asking them to change the CIL's management. In a letter to the coal secretary, TCI said it intended to move court because it found Coal India's directors' response inadequate.