Coal news and updates

Narsing Rao to quit Coal India, become KCR’s Chief Adviser

Coal IndiaBSE 0.76 % Ltd Chairman S Narsing Rao has decided to resign from the state-run minor to become the chief adviser to K Chandrasekhar Rao, who is set to become the first chief minister of Telengana. Narsing Rao is expected to resign between May 24 and 26, and take over the new post on June 2.

Rao told ET that he would be joining the government of the new state at a semi-political post, and was slated to put in his papers at Coal India soon. The government will be formed on June 2, and Rao wants to join the state from the very beginning.

According to rules, a chairman needs to provide three months before he leaves. However, Rao hopes him to be relieved sooner as the post he is to take over is also an important one, said people with knowledge of the matter.

This would make Coal India, the company which has the responsibility of meeting the nation's coal demand, headless at a time when the Central government is changing. At present, the senior most director at CIL is R Mohan Das, who is director-personal.

However, the senior most directors have not always been appointed as acting chairman by the government.

Source: The Economic Times