Government approves strategic disinvestment of Central Electronics Ltd

• Integrity Education, Delhi
• 30, Nov 2021

Government has approved strategic disinvestment of Central Electronics Limited. The Cabinet Committee on Economic Affairs, CCEA empowered Alternative Mechanism comprising Road Transport and Highways Minister Nitin Gadkari, Finance Minister  Nirmala Sitharaman and Science and Technology Minister Dr Jitendra Singh, has approved the highest price bid of M/s Nandal Finance and Leasing Private Limited for sale of 100 percent equity shareholding of Government of India in Central Electronics Limited.

Finance Ministry said, the winning bid is for 210 crore sixty thousand rupees. The process for disinvestment of Central Electronics Limited commenced in 2016 with the in-principle approval of CCEA.

The entire disinvestment process has been carried out in a transparent manner, through multi-layered decision making involving Inter-Ministerial Group, Core Group of Secretaries on Disinvestment and the empowered Alternative Mechanism at the apex Ministerial level.

Sources : News On Air