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Raising serious questions on the valuation of Life Insurance Corp of India (LIC) for its initial public offering (IPO), EAS Sarma, former secretary to the Indian government, has asked the ministry of finance (MoF) to put on hold the entire process of disinvestment of LIC and other central public sector enterprises (CPSEs).
CPI(M) Rajya Sabha MP John Brittas has written to Finance Minister Nirmala Sitharaman against the sale of Ghaziabad-based Central Electronics Ltd to a private firm with no domain experience at "throwaway prices". While Brittas has also written to Science and Technology Minister Jitendra Singh on the issue, another CPI(M) MP Dr S Sivadasan has demanded immediate intervention of
The Centre has approved the sale of 100% equity shareholding of the government in Central Electronics Ltd to Nandal Finance and Leasing for a paltry sum of Rs 210 crore.
Questions had been raised by the winning bidder Nandal Finance's financial track record and the alleged irregularities in its case before the National Company Law Tribunal.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL)