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Lok Sabha
All subsidiaries of Coal India Limited (CIL) except Eastern Coalfields Limited (ECL) and Bharat Coking Coal Limited (BCCL) are earning profit. On ECL falling sick, it had to be referred to the Board for Industrial & Financial Reconstruction (BIFR). After several rounds of hearing BIFR vide its order dated November 2, 2004 has sanctioned a Draft Rehabilitation Scheme (DRS) of ECL for reviving and revamping the company. BCCL management has also prepared a Draft Revival Plan for its revival. The revival packages involve restructuring the equity of the companies and other things on which the views of Ministry of Finance have been sought before the Central Government decides on the measures proposed in the DRS.
This information was given by the Minister of State for Coal and Mines, Dr. Dasari Narayana Rao in a written reply in the Lok Sabha today.
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