81 Tests, 2019 Articles
and counting ...

Competition Comm Imposes Re. 1776 Cr Fine On Coal India

PUBLISHED BY: SURENDER KUMAR
DECEMBER 10, 2013

   
  submit to reddit   Delicious   Digg   LinkedIn  

 

The competition watchdog Competition Commission of India has slapped a hefty Rs 1,773 crore fine on Coal India for its abuse of its dominant position as a fuel supplier. The CCI order has come on a complaint filed by the Maharashtra State Power Generation Co and Gujarat State Electricity Corp against Coal India and its subsidiaries (Mahanadi Coalfields, Western Coalfields, South Eastern Coalfields).

 


 

 

Photo Courtesy: The Hindu Business Line

 

Mahagenco had complained that CIL had been supplying low quality coal at higher prices and imposing non-transparent conditions on quality and other parameters. CCI has held that CIL operates independently of market forces and has undisputed dominance in non-coking coal. It also held CIL responsible for imposing unfair conditions in Fuel Supply Agreements (FSAs) with the power producers supplying non-coking coal. It also directed CIL to ensure parity between old and new power producers and between private and PSU power producers, as far as practicable.


 

 

 

Notably, Coal India accounts for over 80% of the 53 crore million tonne coal produced in the country.





ARCHIVES -- CURRENT AFFAIRS

Tell Us About gkmine.com

We Listen ...


Fortnightly Contest


... WIN Exciting Prizes ...

item-pointer Coming Soon ...

... Previous Winners ...