Opposition to sale of Govt share in BEML though approved by Advisors, NITI: MoS Defence

New Delhi: The Minister of State for Defence Shripad Naik said today that the Government had given ‘in-principle’ approval for strategic disinvestment of BEML Ltd to the extent of 26% out of the Government shareholding of 54.03% with transfer of management control to strategic buyer.

Thereafter, Transaction Advisor, Legal Advisor and Asset Valuer were appointed by the Government as per the procedure and mechanism laid down for this purpose.

The Expression of Interest & Preliminary Information Memorandum document have been prepared by the appointed Advisors and submitted to the Government.

Some organisations have made certain representations against the aforesaid disinvestment proposal of BEML Ltd. However, disinvestments through strategic sale are considered based on recommendations of NITI Aayog after taking into consideration all aspects of the matter.

This information was given by Minister of State for Defence Shripad Naik in a written reply to S Muniswamy in Lok Sabha today.

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The ID Staff

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