State-owned Coal India (CIL) Monday announced the reappointment of five independent directors – Loretta M Vas, Vinod Jain, DC Panigrahi, Khanindra Pathak, SB Agnihotri – to its board.
The “five independent directors were appointed by the ministry of coal vide its letter….dated November 17, 2015, for a period of three years. On completion of their tenure on November 16, 2018, they ceased to be independent directors of Coal India board.”
“The ministry of coal…has reappointed them as independent directors on the board of CIL for a period of one year with effect from November 17, 2018, or until further orders, whichever is earlier,” Coal India (CIL) said in a filing to BSE.
With these reappointments, there are seven independent directors at present on the board of the state-run firm.
Coal India accounts for over 80 per cent of the domestic coal output.
Coal India had earlier said that it was optimistic about an aspirational production target of 652 million tonne for the fiscal year 2018-19.