Coal India to reduce documentation for supply contracts

Coal IndiaNSE 0.14 % has decided to reduce documents required for signing coal supply contracts with consumers in an effort to increase sales that dipped 26% year-on-year in May. Customers will no longer need to provide registration certificates for small-scale industries, trade or factory licences, latest income tax returns, pollution certificate or its application copy, and certified copies of accounts among others.

Certain coal supply schemes required submission of proof of ownership of land, copies of GST or sales tax paid, electricity bills for six months, three-year audited accounts, income tax returns, operations license, and constitution status of the company.