DHANBAD, Dec 22: The Bharat Coking Coals Ltd (BCCI), a subsidiary of the Coal India Ltd (CIL), was on Tuesday released from the Board for Industrial and Financial Reconstruction (BIFR).

The decision to release the coal company was taken at a meeting in Delhi, a BCCI sources said.

The BCCI made it following improved coal production, dispatches of quality coal to bulk consumers and reduction in administrative expenses.

BCCI was referred to the BIFR in November, 1995, when its net worth showed 171 crore negative. Its paid up capital was rs 1122 crore while the accumulated loss was rs 1293 crore.

BCCI managing director AK Sahay, coal ministry director A Banerjee, CIL finance director A Chatterjee were present at the meeting.

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