Majority shareholder or sovereign authority?

When the government of India issued a presidential directive to Coal India Ltd asking it to abide by a decision made by the Prime Minister’s Office, it exercised its right as a majority shareholder albeit with a force of a sovereign authority. In the process, it has set a precedent that has brought back the fears of government control over a company that seeks to compete with global giants and moves shoulder to shoulder with private sector ones on the Sensex ladder.

Read Full Story>>