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Friday, Nov 29, 2002

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BIFR may decide on ECL soon

Our Bureau

KOLKATA, Nov. 28

THE Board for Industrial and Financial Reconstruction (BIFR) has indicated that it wants to be decisive on the issue of revival of the sick Eastern Coalfields Ltd (ECL) at the next hearing, to be held in the city on December 10.

All principal stakeholders of the company, more particularly the management of ECL and Coal India Ltd (CIL), the West Bengal Government and the Central trade unions have been asked to submit their "ultimate'' views on the draft rehabilitation scheme submitted to the board by the ECL management.

Considering that the revival of ECL, the only producer of high grade non-coking coal in the country, is a very important issue, the board desires that all stakeholders should have commonality in their approaches so as to help the board finalise a revival scheme as early as possible.

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