Govt holds CEL Privatisation; Employees union approached court

Govt holds CEL Privatisation; Employees union approached court

New Delhi: The employees union on Wednesday approached the court regarding the privatization of govt of India Enterprise, Central Electronics Limited. 

It is mentioned that the bid made by Nandal Finance & Leasing in Nov 2021 and also approved by the Indian Government is under examination phase, said Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM).

The Letter of Intent (LoI) for sale of 100 percent government shareholding in CEL to Nandal Finance & Leasing has not been issued, as the allegations are being examined, Pandey told PTI.

Further, for now, the government is currently working on the privatization process of CEL and within a short span, it will be disclosed.