CIL plans to set up independent agencies

Posted By: Religare
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CIL plans to set up independent agencies
Coal India Ltd is more cautious now as it is now required by Sebi norms to have projects financially appraised by independent agencies which initially used to be appraised by its subsidiary Central Mine Planning And Design Institute Ltd.

CIL is planning to increase the capacity of mines as to meet the mounting future demands for which it intends to make new investment proposals of more than Rs 150 crore for itself of any of its seven eight subsidiaries.

As to take approval from Sebi company has decided to create a panel of independent financial institutions and appraisers who will financially appraise all these new investment proposals including new mining and expansion projects and then will be presented at board of directors for final approval

Read more about: cil, commodities, coal, bse, nse
Story first published: Monday, June 6, 2011, 9:30 [IST]
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