Kolkata: The financial impact on Coal India may run up to Rs 35,000 crore in the “worst-case scenario” if the Supreme Court’s review on mining taxes doesn’t yield favourable outcome or if the company fails to recover the taxes from its customers, feels Coal India chairman PM Prasad. The miner is awaiting clarity before considering any “provisioning” in its accounts.
“Two subsidiary companies — Mahanadi Coalfields Ltd and Central Coalfields Ltd — will be affected.Of these, Mahanadi Coalfields in Odisha will be hit hardest,” Prasad said on the sidelines of a Bharat Chamber of Commerce interaction recently. tnn & agencies