New CIL head to chair first board meeting

Issues of Fuel Supply Agreements (FSA) and penalty clause are likely to be discussed in the meeting

yash

Yash Vardhan Shukla | April 12, 2012



S Narsing Rao, the new chairman and managing director of Coal India Limited, will chair his first board meeting on April 16. The issues of Fuel Supply Agreements (FSA) and penalty clause are likely to be discussed in the meeting. All the board members of the CIL, including the acting chairman and managing director Zohra Chatterjee, will be present in this meeting to discuss, how to supply 80% of coal linkages to the power generating companies.

The coal ministry has forced the CIL to sign FSA with power generating companies by executing presidential order. If the CIL fails to sign FSA or is unable to supply 80% of coal linkages to the power generating companies, then CIL will be penalised and the CIL itself will decide the amount of penalty, coal minister Sriprakash Jaiswal said.

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