"...I told Coal India people every rupee that we get out of Coal India I am willing to put it in the public sector banks...So we are not converting assets into current expenditure. We are converting one asset into another asset," said Chidambaram, reported zeenews.
Coal India Limited was ranked as one of India's most valuable companies as per the market value. But, the same company is facing a major downward slide presently. During the early morning trade today as well, there was no good news for Coal India, as the company had slipped to 4.6 per cent.
The trade unions representing Coal India were unhappy with the share sale and are expected to go for three days strike in the month of September. In fact, these trade unions have many more demands.