In what seemed a political understanding, Trinamool Congress chief and Railway Minister Mamata Banerjee stayed away from a cabinet committee meeting where the government finally cleared two disinvestment proposals she had been opposing.
The government has decided to go ahead with the privatisation of Hindustan Copper Ltd, setting aside concerns over the fate of units, which were partially nationalised.
To bail out Hindustan Copper Limited from its financial morass, the government plans to restructure the company's capital and waive interest on its loan, guarantee fee among others to adjust against HCL's accumulated loss of Rs 723 crore.
The Supreme Court on Friday issued notices to Union finance and divestment ministries on a petition challenging the privatisation process initiated by the Centre for Hindustan Copper Ltd.
In a move to attract bidders for loss making Hindustan Copper Ltd, the divestment ministry has decided to ease norms for group transfer of equity stake in the divested company allowing strategic partners a greater say in the matter.
Disinvestment Ministry has stipulated a three year lock in period for prospective bidders vying for stake in Hindustan Copper where Government proposes to shed its entire equity.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
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