InvestorQ : Why has the government put divestment of CEL on hold?
prachi Patwardhan made post

Why has the government put divestment of CEL on hold?

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sara Kunju answered.
4 months ago
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Government decided to put off disinvestment of Central Electronics Limited (CEL) subject to detailed examination of allegations made by employees. The Letter of Intent issued to the winning bidder, Nandal Finance and Leasing is on hold.

One of the key allegations of the employees union was that bidders were inter-related by virtue of common directorship. There is also a legal case pending against Nandal Finance at the NCLAT. Employees opined that a financial services company should not bid for a strategic PSU asset.

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