TCI dials FM on coal FSA

After its presentation on why fuel supply agreements (FSAs) for coal is not in the public interest,The Children’s Investment Fund Management (TCI) has now knocked the door of the finance minister.

Written by Sandeep Singh | Mumbai | Published: April 13, 2012 1:16:59 am

After its presentation on why fuel supply agreements (FSAs) for coal is not in the public interest,The Children’s Investment Fund Management (TCI) has now knocked the door of the finance minister.

The letter written by Oscar Veldhuijzen,Partner TCI,to the finance ministercited the Supreme Court’s ruling in the case of ‘Ashoka Smokeless Coal India versus Union of India’,and the recent 2G judgement and said,“The Indian Supreme Court supports our case.”

While the Supreme Court in its 2G judgement said that natural resources are vested with the government as a matter of trust in the name of the people of India,it is the solemn duty of the state to protect the national interest and natural resources must always be used in the interests of the country and not private interests,TCI said in the letter.

Turner shuts down Imagine TV

US-based Turner Broadcasting System,a Time Warner company,has decided to shut its Hindi general entertainment channel ‘Imagine TV’ in India as poor ratings hampered any further investment in it.

The company,however,did not elaborate how many jobs will be lost as a result,but reiterated that it was committed to future investment in the country. Imagine TV together with its international feed ‘Imagine Dil Se’ will cease to operate from Thursday.

“Overall the channel was unable to achieve the ratings consistency needed to sustain the business,” Turner International MD South Asia Siddharth Jain said.

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