Coal India chairman's job was always hot. And that's why five IAS officers and over dozen others fiercely competed with each others recently to occupy the hot chair that controls the world's largest coal miner with an annual revenue of Rs 60,000 crore (FY2010-11). But for Narsingh Rao, Coal India chairman designate and 1986 batch Andhra Pradesh cadre IAS, the position has come with numerous challenges. Apart from the leaked CAG report on distribution of coal blocks which among other others indicted Coal India, there have been issues regarding its ability to produce more and commit power companies for an assured coal supply...
What also came as an unexpected blow was the anti-company position taken by the Coal India's independent directors on protecting interests of the minority shareholders. The Children's Investment Fund Management, a London-based fund holding just one percent of Coal India's share, is now dragging the company for arbitration outside Indian legal system.
And that's where Narsingh Rao's ability to steer this high valued, yet problem-ridden company will be seriously tested. Till now, Narsingh Rao has been working as Chairman and MD of Singareni Collieries Company Ltd (SCCL). Interestingly, Rao worked as portfolio manager in an UN agency called UN Office for Project Services for six years between 1999 and 2005.
while narsimha rao has been been successfull in steering sccl,which is relatively a small compay,compared to cil,and also virtually company has no competition in south india,it is difficult for him to lead cil,given its magnitude,and every subsidiary of cil,function on its own.
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