Lt Col Shrikant Purohit greeted with flowers, says ‘I am happy’ with SC bail

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.

Chennai, Jan 19: Amid ongoing nationwide protests against Citizenship (Amendment) Act, 2019, finance minister Nirmala Sitharaman on Sunday said that as many as 2838 people from Pakistan were given citizenship during the last six years.

"In the last six years, as many as 2838 Pakistani refugees, 914 Afghan refugees, 172 Bangladeshi refugees including Muslims have been given Indian citizenship. From 1964 to 2008, more than 4,00,000 Tamils (from Sri Lanka) have been given Indian citizenship," Sitharaman said at 'Programme on Citizenship (Amendment) Act, 2019' event here.

She added, "Till 2014, over 566 Muslims from Pakistan, Bangladesh and Afghanistan were given Indian citizenship. During 2016-18 under Modi government, around 1595 Pakistani migrants and 391 Afghanistani Muslims were given Indian citizenship."

The minister, further, said, "It was also during the same period in 2016, that Adnan Sami was given Indian citizenship, this is an example."    

Sitharaman added that people who came from East Pakistan have been settled at various camps in the country.

"They are still there and it's been 50-60 years now. If you visit these camps, your heart will cry. The situation is the same with Sri Lankan refugees who continue to live in camps. They're barred from getting basic facilities," she said.

Asserting that the government is not snatching away anyone's citizenship, the BJP leader said: "This Citizenship (Amendment) Act is an attempt to provide people with a better life. We are not snatching away anyone's citizenship, we are only providing them that."

"The National Population Register (NPR) will be updated every 10 years and is not involved with the National Register of Citizens (NRC). Some are involved in raising false allegations and triggering people unnecessarily without any base," she added.

New Delhi, April 6: India recorded the highest number of 704 positive cases of coronavirus in the past 24 hours, said the Union Ministry of Health and Family Welfare on Monday.

With these new cases, the total number of COVID-19 positive cases in India have now climbed to 4,281.

Total deaths stand at 111 including 28 new deaths. So far, 318 COVID-19 patients have been cured across the country.