Files fresh notification under the Cyprus treaty unperturbed by fall in CIL stock’s dollar value

UK-based hedge fund The Children’s Investment Fund (TCI) has dropped the charges against the environment and forests ministry from its legal proceedings under the India-Cyprus investment treaty. In March, it had initiated legal proceedings against the government of India under the treaty, after the coal ministry did not respond to its concerns over coal pricing and management of state-run Coal India Ltd (CIL). While the government owns 90 per cent in CIL, TCI holds a little over one per cent.