The government has put on hold the privatisation of Central Electronics Ltd (CEL) after the employees union approached the court against the sale of the company to a little-known firm, a top official said Wednesday.
The Letter of Intent (LoI) for sale of 100 per cent government shareholding in CEL to Nandal Finance & Leasing has not been issued, as certain allegations are being examined, Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM), told PTI.
The government had in November approved the sale of CEL, under the Department of Scientific and Industrial Research (DSIR), to Nandal Finance & Leasing for Rs 210 crore. The transaction was scheduled to be completed by March 2022…Read More…
Source : pti