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India: Allegations hit coal conglomerate hard

By  |  March 13, 2013
India: Allegations hit coal conglomerate hard

Coal India is under fire from the nation’s Competition Commission as the coal giant is accused of holding a monopoly position in the market and abusing its dominance. According to reports, the Competition Commission of India investigated the company after two complaints were filed with the authority. One accused Coal India of forcing its customers to sign one-sided fuel supply agreements and the other says the coal quality was below the standard promised to consumers, despite higher prices. The allegations arise simultaneously with UK shareholder TCI also accusing Coal India of price-fixing and compromising shareholders’ interests.

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    Full Content: The Hindu Business Line

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