| The Company was originally incorporated as a private limited company with the name of 'Coal Mines Authority Limited', under the Companies Act, 1956, as amended ("Companies Act") on June 14, 1973. Subsequently, pursuant to a shareholder's resolution dated October 15, 1975 and approval of the Ministry of Law, Justice and Company Affairs (letter number RD/T/5226) dated October 21, 1975, the name of the Company was changed to 'Coal India Limited' and the company received a fresh certificate of incorporation consequent upon change of name dated October 21, 1975 from the Registrar of Companies, West Bengal ("RoC"). Thereafter, pursuant to a resolution passed by the shareholders dated February 16, 2010 and approval of the Ministry of Coal (letter number 38038/1/96-CA-II (Vol.II)) dated July 31, 2009, the Company was converted into a public limited company with effect from February 24, 2010. The company is the largest coal producing company in the world (Source: CRISIL Research), based on the company’s raw coal production of 431.26 million tons in fiscal 2010. The company is also the largest coal reserve holder in the world (Source: CRISIL Research) based on the company’s reserve base as of April 1, 2010. As of March 31, 2010, the company operated 471 mines in 21 major coalfields across eight states in India, including 163 open cast mines, 273 underground mines and 35 mixed mines (which include both open cast and underground mines). The company produces non-coking coal and coking coal of various grades for diverse applications. The Company was established in 1973 and is wholly owned by the GoI. The company’s coal production operations are primarily carried out through seven of its wholly-owned Subsidiaries in India. In addition, another wholly-owned Subsidiary, CMPDIL, carries out exploration activities for its Subsidiaries and provides technica l and consultancy services for i s operations as well as to third-party clients for coal exploration, mining, processing and related activities. The company has also established a wholly-owned subsidiary in Mozambique, Coal India Africana Limitada ("CIAL"), to pursue coal mining opportunities in Mozambique and has acquired prospecting licenses for two coal blocks in Mozambique. The company has been conferred the Navratna status by the GoI, which provides it certain operational and financial autonomy. In addition, six of its wholly owned Subsidiaries, including CMPDIL, have also been accorded the Mini Ratna status by the GoI. |
