Coal India shares slump after regulator imposes fine

Coal India fined for abusing its dominant position,imposing unfair conditions in fuel supply agreements.

Written by Reuters | Mumbai | Published: December 11, 2013 10:26 am

Shares in state-run

Coal India fell as much as 3.4 per cent on Wednesday after the competition regulator imposed a fine of 17.7 billion rupees on the miner.

The Competition Commission of India imposed the fine late on Tuesday saying Coal India abused its dominant position and imposed unfair conditions in fuel supply agreements with customers.

Officials at Coal India,the world’s largest coal miner by output,could not be immediately reached.

Coal India shares were down 2.4 percent at 0925 a.m.

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