Coal news and updates

A K Dubey Gets Extension as Acting CMD of Coal India

State-owned Coal India Ltd (CIL) on Tuesday said the government has decided to extend the tenure of its acting chairman A K Dubey for another three months.

Mr Dubey, who is Additional Secretary in the Coal Ministry, was given the additional charge of chairman and managing director (CMD) after Narsing Rao resigned in May.

The Coal Ministry has "conveyed the approval for extension of additional charge of CMD of the company to Dr A K Dubey, Additional Secretary, Ministry of Coal for a further period of three months from September 25, 2014 up to December 25, 2014 or till a regular appointment is made or until further order whichever is earlier," CIL said in a filing to the BSE.

Following the acceptance of Mr Rao's resignation, the Centre appointed Mr Dubey as the new acting CMD in June.

The government had earlier said it was open to hiring CIL's CMD from the private sector.

Coal India, which accounts for over 80 per cent of the domestic coal production, produced 462 million tonnes (MT) coal in the last fiscal year as against the target of 482 MT.

Source: NDTV Profit