(a) whether the Government have received any Memorandum from Hindustan Cables
Limited, Hyderabad, Employees Union urging the Government not to go ahead with their
proposal for its Disinvestment;
(b) if so, the details thereof; and
(c) the reaction of the Government thereto?
THE MINISTER OF COMMUNICATIONS AND INFORMATION TECHNOLOGY AND
MINISTER OF DISINVESTMENT (SHRI ARUN SHOURIE):
(a) Yes, Sir.
(b) The Employees Union have represented to stop closure of HCL and simultaneous merger
of the company with Bharat Sanchar Nigam Ltd.
(c) The disinvestment of HCL could not be completed due to adverse industry conditions,
lack of bidders` interest and poor financial condition of the company. The case of Hindustan
Cables Ltd. has been returned to the Administrative Ministry (i.e. Department of Heavy Industry,
Ministry of Heavy Industries and Public Enterprises) for appropriate action.