Govt may reactivate its disinvestment plan of Central Electronics Ltd 

The government is looking to reactivate its plans of disinvestment of Central Electronics Limited (CEL), a top official told Business Today Television. “Core group of secretaries on disinvestment of CEL will be meeting this week to discuss the plan of action,” said an official to Business Today TV.

The government had in November approved the sale of CEL, under the Department of Scientific and Industrial Research (DSIR), to Nandal Finance for Rs 210 crore. The transaction was scheduled to be completed by March 2022. But, due to allegations made by public sector employee association citing under valuation of the company, the centre had decided to put the disinvestment on hold. Further to this, the letter of intent to the winning bidder Nandal Finance and Leading Ltd was put on hold early this year.

“Inter-ministerial group on disinvestment has examined the allegations that were raised by the employees. Such processes take time, and needs consultation across departments.” official added.

Incorporated in 1974, CEL, under the Ministry of Science and Technology, is a pioneer in the field of Solar Photovoltaic (SPV) and it has developed the technology with its own R&D efforts.

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