The alleged irregularities in the HZL case include undervaluation of the shares: the sale value of the 26% government stake was Rs 445 crore, when its value was alleged to be Rs 30,000 crore. If the government has followed the due process, set a reasonable floor price and invited competing bids, finding fault with the final outcome would only serve to halt all new privatisation. Only coercion, collusion and other mala fide should be penalised. There can be no end to the raking up of past cases of divestment. ![]() ![]() It faults the closure of CBI's preliminary enquiry into alleged irregularities in this transaction. Its reported order says there is sufficient material for registration of a full-fledged Central Bureau of Investigation (CBI) probe into the sale of 26% government stake to Sterlite, a subsidiary of the Vedanta Group, in 2002.
0 Comments
Leave a Reply. |