Government Orders Coal India to Establish Supply Agreements

Bloomberg reported that Coal India (BSE:533278) has been ordered to ensure coal supply to power utilities.

As quoted in the market news:

A presidential directive has been issued to the state-owned company to sign the accords, coal ministry spokesman N.C. Joshi said by telephone yesterday. Coal India missed a deadline for some agreements after its board disagreed on a penalty clause linked to a minimum supply level of 80 percent.

Click here to read the full Bloomberg report.