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Property Dispute Lawyer On Disinvestment of Sick PSUs

Property Dispute Lawyer - According to Mr. Kislay Pandey - Property Dispute Lawyer, the Supreme Court of India," Government cannot burn the losses for too long, management of sick unit is a problematic issue, therefore, disinvestment is the only option to reduce burgeoning liabilities and the new BJP government is searching ways to maximize the underutilised and idle resources.

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Property Dispute Lawyer On Disinvestment of Sick PSUs

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  1. Property Dispute Lawyer On Disinvestment of Sick PSUs

  2. Property Dispute Lawyer • There are many public sector units performing badly and are liability on the government. To reduce the burden government is planning to entrust various sick units in Mumbai, Kolkata, Pune, Ahmedabad and other cities to state-owned National Buildings and Construction Corporation (NBCC), before selling off the chronically loss-making entities. • NBCC, is developing real estate in Delhi has shown interest in prime plots owned by companies such as Bengal Chemicals, National Bicycle Corporation and Richardson & Cruddas in Mumbai’s Worli and Byculla. Similarly, NBCC is looking for land owned by NJMC and other state-government entities such as Lilly Biscuits and WBWC in Kolkata, the eastern part of India.

  3. Property Dispute Lawyer • NBCC chairman and MD Anoop Kumar Mittal said, “the company has written to the disinvestment department and the Board for Reconstruction of Public Enterprises to enter into a partnership with some of the loss-making PSUs. Our interest goes beyond metros as we also want to look at tier-II cities.” • In addition, the company has initiated a dialogue with some of the companies to develop land. Government officials said NBCC has suggested various models, including direct sale of land and even joint ventures for the development of real estate. There are also suggestions of a holding company model, which will bring the sick companies under its fold, along with the staff and other assets and liabilities.

  4. Property Dispute Lawyer • According to Mr. KislayPandey - Property Dispute Lawyer, the Supreme Court of India,” Government cannot burn the losses for too long, management of sick unit is a problematic issue, therefore, disinvestment is the only option to reduce burgeoning liabilities and the new BJP government is searching ways to maximize the underutilised and idle resources. The BJP government is continuing with the UPA’s disinvestment policy and it is good to make strategic disinvestment plan .” • Under the policy approved by the UPA, loss-making PSUs were to be put on the block but it’s a different matter that no action was initiated for a decade. But, before these companies are sold, the government will want to sell off its real estate so that it is not accused of handing over prime property at throwaway prices. Analysts, however, say that there may not be many takers for the sick companies minus the real estate.

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