Trump calls Modi 'Father of India', says he brought the country together

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, Jan 29: Badminton champion Saina Nehwal joined the ruling BJP today and is likely to campaign for the party ahead of the February 8 Delhi election.

"I have won medals for the country. I am a very hardworking and I love hardworking persons. I can see Prime Minister Narendra Modi does so much for the country, I want to do something for the country with him," the shuttler said, wearing the BJP scarf.

"I draw a lot of inspiration from Narendra sir".

Haryana-born Saina Nehwal, 29, is a major acquisition for the party in the middle of the Delhi poll campaign; she is one of the most popular sportspersons in India with a huge fan following and brand value. She is preparing for the 2020 Tokyo Olympics.

A former world number 1, she has been honoured with the country's top sporting awards like the Rajiv Gandhi Khel Ratna and Arjuna Award. She was also awarded the Padma Bhushan in 2016.

The Badminton player has won over 24 international titles. In the London Olympics, she won a bronze. She was world number two in 2009 and number one in 2015.

With her tweets praising Prime Minister Narendra Modi, Saina Nehwal was widely seen to lean towards the BJP.

One of her tweets became controversial when it was found to be identical to several others in praise of a PM Modi speech last year. Saina was trolled on Twitter with screenshots of the identical tweets. She was also among the sportswomen who put up identical tweets on Diwali thanking PM Modi for his initiative to empower women, with the hashtag #bharatkilaxmi.

The BJP roped in many famous personalities last year, including cricketer Gautam Gambhir, who was elected MP from Delhi in the national election, and wrestler Babita Phogat. Just before the Haryana assembly polls, the party roped in wrestler Sushil Kumar, Babita Phogat and former Hockey team captain Sandeep Singh. Sandeep Singh won the election and was appointed minister.

New Delhi, Feb 21: Global terror financing watchdog FATF on Friday decided continuation of Pakistan in the "Grey List" and warned the country that stern action will be taken if it fails to check flow of money to terror groups like the LeT and the JeM, sources said.

The decision has been taken at the Financial Action Task Force's plenary in Paris.

The FATF decided to continue Pakistani in the "Grey List". The FATF also warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses, a source said.