Coal India faces Rs 25,000 crore rent claim for Jharkhand’s mine land | business | Hindustan Times
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Coal India faces Rs 25,000 crore rent claim for Jharkhand’s mine land

Coal India Ltd faces a demand to pay as much as Rs.25,000 crore from Jharkhand as rent for mining land in a clash that threatens to erode the company’s record cash reserves.

business Updated: Jan 22, 2014 11:34 IST

Coal India Ltd faces a demand to pay as much as Rs.25,000 crore from Jharkhand as rent for mining land in a clash that threatens to erode the company’s record cash reserves.

“The local administration has sent a claim to recover Rs 11,000 crore from the world’s biggest producer of the fossil fuel,” JB Tubid, the province’s top bureaucrat in charge of revenue and land reforms, said in an interview. “The balance owed by the miner, 90% owned by the central government, may be as much as Rs 14,000 crore, for which another note will be dispatched in two months,” he said.