(a) whether certain public sector enterprises, which were put on disinvestment, would not be sold due to non-availability of bidders and as a result thereof were transferred to concerned departments;
(b) if so, whether such enterprises are proposed to be restructured;
(c) if so, the details thereof; and
(d) if not, the reasons therefor?
MINISTER OF COMMUNICATIONS AND INFORMATION TECHNOLOGY AND MINISTER OF DISINVESTMENT (SHRI ARUN SHOURIE)
(a) Yes, Sir.
(b)to(d) Eight cases were returned to the concerned Administrative Ministry after concerted efforts by the Ministry of Disinvestment failed to attract any bidder.
The cases of Praga Tools Ltd., Bharat Brakes and Valves Ltd., Bharat Leather Corporation Ltd., National Industrial Development Corporation Ltd., and RBL Ltd. were returned by Ministry of Disinvestment to Department of Heavy Industry for appropriate action including closure. In the case of Bharat Pumps and Compressors Ltd., the cabinet had given “ in principle†approval for financial restructuring which was incumbent on successful joint venture formation. Scooters India Ltd. (SIL) was returned to Department of Heavy Industry intimating that the case could be taken up for the disinvestment only after the automobile market improves. M/s Hindustan Insecticides Ltd (HIL) was returned to Department of Chemicals and Fertilizers to take appropriate action. Equity of the Company is being strengthened to finance the repairs and maintenance of capital asset.