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Deloitte yet to give final report on Coal India restructuring

Consultancy firm Deloitte which was selected to institute a study on restructuring options for state-owned Coal India is yet to submit its final
report, Parliament was informed today.

"Ministry of Coal has instituted a study on restructuring options for Coal India LtdBSE 0.52 % (CIL) by engaging Deloitte Touche Tohmatsu India Pvt Ltd ... The consultant has not submitted the final report after taking into consideration the concerns expressed by the coal companies on the interim report," Coal and Power Minister Piyush Goyal said in a written reply to the Lok Sabha.

The consultant had submitted its interim report in October which was discussed with coal companies and CIL, the minister said.

In the interim report, the Consultant had broadly suggested three restructuring options, including reforming holding company and subsidiaries through internal changes in structure, systems and roles and creating independent mega regional companies, Goyal said.

Goyal added that the consultancy firm had also suggested phased creation of independent entities with continuation of holding company during transition.

In the same Interim report, he said, Deloitte had also suggested restructuring model of Central Mine Planning and Design Institute Ltd (CMPDIL), a subsidiary of CIL with the options like "CMPDI as an autonomous body under MoC (Ministry of Coal).

Source: Economic Times