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Defaulters not barred from disinvestment process
New Delhi, Dec 16: Existing guidelines do not bar defaulters from participating in the disinvestment process, Rajya Sabha was informed today.
New Delhi, Dec 16: Existing guidelines do not bar
defaulters from participating in the disinvestment process,
Rajya Sabha was informed today.
"The ministry's existing guidelines for disqualification of bidders do not list default with respect to repayment obligations by itself as a reason for disqualification," Disinvestment Minister Arun Shourie said in a written reply.
Asked if IFCI has asked his ministry to disqualify prospective bidders on account of default in payment obligations, Shourie replied in the affirmative.
"It was clarified to the company that being an entry level condition, the 26 per cent divestment clause will remain applicable," he said.
CCI: the lone public sector cement company, cement corporation of India, has been declared sick and the board for industrial and financial reconstruction has directed for "sale of CCI as a whole or its plants individually or collectively," Singh added.
Bureau Report
"The ministry's existing guidelines for disqualification of bidders do not list default with respect to repayment obligations by itself as a reason for disqualification," Disinvestment Minister Arun Shourie said in a written reply.
Asked if IFCI has asked his ministry to disqualify prospective bidders on account of default in payment obligations, Shourie replied in the affirmative.
"It was clarified to the company that being an entry level condition, the 26 per cent divestment clause will remain applicable," he said.
CCI: the lone public sector cement company, cement corporation of India, has been declared sick and the board for industrial and financial reconstruction has directed for "sale of CCI as a whole or its plants individually or collectively," Singh added.
Bureau Report