With plummeting commodity market and share prices, mining behemoth Rio Tinto on Wednesday said it is trimming its global workforce by 14,000 employees as part of a slew of measures to reduce its debt of $10 billion by the end of 2009.
Albanese said India had lost a lot of market share in iron-ore.
The shareholders will also get one redeemable preference share in Vedanta Ltd
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Cairn India said the company board has accepted Elango's resignation.
Albanese, 56, will take the helm on April 1.
'It is my duty to give the govt the right price of crude oil.'
India Inc is encouraged by a determined Budget.
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