MoF FOR SELLING HUGE STAKE IN MUL TO PUBLIC FIs
Article Abstract:
The Ministry of Finance (MoF) of the Government of India has proposed sale of a huge part of the Government's stake in Maruti Udyog Ltd (MUL). Maruti Udyog Ltd makes Maruti brand of passenger cars. The Ministry plans to sell the stake to public financial institutions (FIs) like the Unit Trust of India and the Life Insurance Corporation. Maruti Udyog Ltd is a joint venture of the Government of India and Suzuki of Japan. The Government holds Rs61 crore in the Rs132 crore equity of Maruti Udyog Ltd. The Government's stake is now worth more than Rs5,000 crore in the open market. (ag/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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POLYCHEM PROPOSAL TO SELL IDIL STAKE REFERRED TO AG
Article Abstract:
The Cabinet Committee on Foreign Investment has asked the industry ministry to refer the proposal of Polychem Ltd to sell its 40 percent stake in International Distillers (India) Ltd to the Attorney General (AG) of India. The decision to refer the matter to the AG has been taken as the ministry of chemicals had expresses reservations on the divestment proposal. Polychem has planned to sell its seven lakh shares, having a face value of Rs100 each aggregating Rs7 crore, to Selviac BV of Netherlands. (khr)
Comment:
The Cabinet Committee on Foreign Investment has asked the industry ministry to refer the proposal of Polychem Ltd to sell its 40 percent stake in International Distillers (India) Ltd to the Attorney General (AG) of India.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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