Corporate watchdog hits besieged Indian-owned Aussie coal mine with criminal charges

Australia's corporate cop has laid criminal charges against a beleaguered Indian-owned Australian coal mine already facing a revolt from workers and a legal fight with its biggest customer. Key points: The corporate regulator has charged Griffin Coal with offences over alleged failure to report finances Charges come as the coal miner faces legal battles with its biggest customer and workforce Griffin is indirectly responsible for producing a significant share of power to the WA's main grid Griffin Coal, which is believed to be more than a billion dollars in the red, has been hit with charges from the Australian Securities and Investments Commission over an alleged failure to lodge its audited financial accounts. South West Liberal MLC Steve Thomas said the charges by ASIC suggested Griffin was "well past the crisis stage". Greg Busson, the state secretary of the Construction, Forestry, Maritime, Mining and Energy Union's mining division, said workers had been downing tools for an hour a day since late last month amid "frustration" with the company's handling of the workforce. Mr Busson also said the fact ASIC was pressing criminal charges against Griffin was "worrying" and he questioned whether the company would have the capacity to pay any further penalties.