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News Brief | November 2014

TCI may exit Coal India completely

The Children's Investment Fund Management (UK) LLP, once the second-largest investor in Coal India, may be looking at exiting the company, which it has criticised for not giving adequate emphasis to shareholder value. The fund has pared stake to a negligible level compared with the total share base of over 6.3 billion, according to a person with knowledge of the matter, say news reports. TCI had filed petitions in the Delhi and Calcutta High Courts against the government and Coal India in 2012, alleging that prices of coal had been kept artificially low and that they had failed to perform their fiduciary duties. Besides moving court, TCI had knocked on the doors of the PMO and the Ministry of Finance as part of its shareholder activism.
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