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Shourie to seek CCD guidance on involvement of tainted firms

Divestment Minister Arun Shourie on Saturday said that he would seek guidance from the Cabinet Committee on Divestment on the involvement of firms charged with stock price manipulation in the process of divestment, and raised doubts about the privatisation of Indian Airlines.

"A general view has to be taken at the Cabinet Committee on Divestment," Shourie said when asked if government would consider barring the stock scam tainted firms from participating in the divestment process.

On whether privatisation of Indian Airlines could hit a roadblock with both the bidders coming under a cloud, Shourie said: "It is a fact that Videocon is one of the bidders in Indian Airlines and named in Sebi order. Similarly Hindujas are the other bidders and have been chargesheeted in Bofors case."

"Therefore, I will await the Law Minister Arun Jaitley's opinion in regard to implication of Sebi order on Videocon and I will await the decision of Cabinet Committee on Securities in regard to the Hindujas," Shourie said, adding that he was seeking Jaitley's opinion on a whole lot of issues arising out of Sebi barring Videocon, Sterlite and BPL from accessing capital market on charges of price manipulation.

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