Deloitte submits draft report on Coal India restructuring

Consultancy firm Deloitte, which had been selected to study the restructuring of state-owned Coal India (CIL), has submitted its draft report to the Coal Ministry.

"Deloitte has submitted its draft report," a source said. The ministry has asked the firm to prepare and hand over its final report by the end of next month, the source added.

The Planning Commission and other high-level panels such as the Expert Committee on Road Map for Coal Sector Reforms, also known as the T L Shankar Committee, had recommended restructuring CIL in view of the rapidly increasing demand for coal, the need to enhance production and to make the sector competitive.

CIL, the single largest coal producer in the world, accounts for 81 per cent of India's output of the fuel. It operates through 81 mining areas and has seven wholly owned coal producing subsidiaries and one mine planning and consultancy company.

The Coal Ministry had selected Deloitte from among nine shortlisted companies, including ICICI Securities, KPMG, Ernst & Young, McKinsey and Crisil. As many as 17 firms, including SBI Capital and Infosys, had responded to the invitation for the consultancy proposal put out last year.

The Coal Ministry had informed the Prime Minister's Office that it would appoint a consultant with international expertise to frame the time line to take forward the restructuring of the miner.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Back from the US of A, Modi will now have to walk the talk

    It would be no overstatement to suggest that prime minister Narendra Modi’s five-day trip to the US was an exercise in PR diplomacy.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Simon J Evenett

Where the mind leads, actions follow

Whether in business, government, non-profits, or elsewhere, what assumptions underpin ...

Zehra Naqvi

Fading empathy in the modern world

The episode of a man being mauled to death by ...

Gautam Gupta

French fashion icon Gaultier’s pret goodbye

With Gaultier gone, the world of international prêt will never ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture