Deloitte submits draft report on Coal India restructuring

Consultancy firm Deloitte, which had been selected to study the restructuring of state-owned Coal

RELATED ARTICLES

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E-mail ID will not be published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

  • Child abuse needs to be tackled with the seriousness it deserves

    The Bangalore rape case has again brought into focus an issue we Indians forever shy away from facing up to — child sexual abuse.

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

Varun Dutt

<b>Riskfactor</b>: THE BASE RATE BIAS

Base rate fallacy, also called base rate neglect or base ...

Parvez Imam

Revisiting history can do us all good

We often think that we understand history. We read it ...

Bubbles Sabharwal

Your happiness doesn’t depend on your needs

They are two different words (and even worlds) altogether: having ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture