Indrani Mukerjea claims to have paid $5 million to P Chidambaram, son Karti in bribe, says CBI chargesheet

New Delhi, Feb 10: The government is set to privatise Central Electronics Ltd, a CPSE under the Department of Science and Technology, by selling its 100% stake with management control and has invited the Expression of Interest for the same by March 16.

The selected bidder will be required to lock in its shares for a period of three years during which it cannot undertake the sale of its stake in CEL, the PIM (Preliminary Information Memorandum) said.

"The government of India has 'in-principle' decided to disinvest 100 per cent of its equity shareholding in CEL (which is equivalent to 100 per cent of the total paid up equity share capital of CEL) through Strategic Disinvestment with transfer of management control (Strategic Disinvestment or Transaction)," DIPAM, the Disinvestment Department, said.

The process for the transaction has been divided into two stages, namely, Stage I and Stage II.

After BPCL and Air India, this is yet another CPSE which government is slated to privatise if it gets offers from bidders.

The government has set a challenging target of Rs 2.1 lakh crore disinvestment proceeds from CPSE sell-offs and IPOs, OFSs (Offer for sale) in the next fiscal and it going out all guns blazing to meet that target after revising this fiscal target of Rs 1.05 lakh crore to Rs 65,000 crore.

The Interested Bidders (which can also include employees of CEL) must have a minimum net worth of Rs 50 crore as on March 2019. DIPAM has released complete invitation Preliminary Information Memorandum (PIM) of CEL. Resurgent India Limited is the advisor to the Transaction.

CEL is a pioneer in the country in the field of Solar Photovoltaic (SPV) with the distinction of having developed India's first Solar cell in 1977 and first Solar panel in 1978 as well as commissioning India's first solar plant in 1992.

More recently, it has developed and manufactured the first crystalline flexible solar panel especially for use on the passenger train roofs in 2015.

Its solar products have been qualified to International Standards IEC 61215/61730. CEL is further working on development of a range of new and upgraded products for signaling and telecommunication in the railway sector.

In the SWOT analysis of the CPSE, DIPAM has stated under weakness that "the company has weak financial loss due to past losses, high manufacturing cost and non payment of dues by state nodal agencies affecting the financial position of the company".

The CPSE has adequate land for expansion, the SWOT analysis said adding "the CPSE faces threat of dumping of solar cells at very low rates which makes solar PV manufacturing industry unviable".

Entry of new players in the market for solar products and railway signalling systems also is cited as a threat.

New Delhi, Jul 23: With the highest single-day spike of 45,720 cases, India's coronavirus count crossed 12 lakh mark on Thursday.

The Union Ministry of Health and Family Welfare informed that 1,129 deaths were recorded in the last 24 hours.

The total number of coronavirus cases stand at 12,38,635 including 4,26,167 active cases, 7,82,606 cured/discharged/migrated. The cumulative toll has reached 29,861 deaths.

Maharashtra has reported 3,37,607 cases, highest in the country followed by Tamil Nadu with 1,86,492 cases. Delhi coronavirus count has reached 1,26,323 cases.

According to the Indian Council of Medical Research (ICMR), 1,50,75,369 samples were tested till July 22 out of which 3,50,823 samples were tested yesterday.

London, Mar 4: The UK government has reiterated its concern over the potential impact of the Citizenship Amendment Act (CAA) and said it is continuing to follow the events in India closely.

In response to an urgent question on “Recent Violence in India” tabled by Pakistani-origin Opposition Labour Party MP Khalid Mahmood in the House of Commons on Tuesday, UK’s Minister of State in the Foreign and Commonwealth Office (FCO) Nigel Adams said the UK engages with India at all levels, including on human rights, and also referred to the country's "proud history" of inclusive government and religious tolerance.

"The UK government also have concerns about the potential impact of the legislation (CAA),” said Adams, the Minister for Asia who was standing in for UK Foreign Secretary Dominic Raab, who is on a visit to Turkey.

"It is because of our close relationship with the government of India that we are able to discuss difficult issues with them and make clear our concerns where we have them, including on the rights of minorities. We will continue to follow events closely and to raise our concerns when we have with them,” said the minister.

While Mahmood, who had tabled the urgent question for an FCO statement, described the government response as “facile”, another Pakistani-origin MP Nusrat Ghani called on the government to relay the UK Parliament's concerns to the Indian authorities.

British Sikh Labour MP Tanmanjeet Singh Dhesi said the violence had brought back “painful personal memories” from the 1984 Sikh riots while he was studying in India and fellow Sikh MP Preet Kaur Gill also referenced 1984 in her intervention.

Other MPs sought to highlight the steps taken by the Indian authorities to restore “peace and tranquillity” in Delhi.

“He will be aware that it is not just Muslims who have been killed; Hindus have also been killed as part of the riots,” said Conservative Party MP Bob Blackman.

Scottish National Party (SNP) MP Alyn Smith sought the UK government’s intervention to share best practice around countering the online disinformation campaign being used in India to “inflame tensions”.

“We are in constant contact on these issues, and we know how important this is to Members of Parliament and their constituents, who may have family in the area,” said Adams, in his response.