Decade of Disinvestment Yields Rs 4.20 trillion, FY24 Target Likely Missed

Govt Raises Rs.165.07 Bn from PSUs Disinvestment in FY24

The Indian government has garnered a total of Rs.165.07 billion through disinvestment in public sector enterprises during the fiscal year 2023-24. This substantial revenue from stake sales in PSUs reflects the government's efforts to unlock value from its investments and strengthen the country's fiscal position.

The disinvestment proceeds were generated through the sale of government stakes in various public sector enterprises across different sectors. These transactions aimed to promote efficiency, transparency, and accountability in PSU operations while also attracting private sec..

SCI Leads Green Hydrogen Initiative

In a groundbreaking move towards sustainable shipping, the Shipping Corporation of India (SCI) has been entrusted with spearheading the government's ambitious green hydrogen scheme. The initiative aims to revolutionize the maritime industry by incorporating environmentally friendly hydrogen fuel. This strategic step aligns with global efforts to reduce carbon emissions and transition towards cleaner energy sources.

SCI, a key player in the maritime sector, will play a pivotal role in implementing and promoting the use of green hydrogen within the shipping industry. This move is in lin..

Financial bids for NMDC Steel’s new plant is expected in August

The Indian government is set to invite financial bids for a 50.79% stake in NMDC Steel, a subsidiary of NMDC (National Mineral Development Corporation), following the completion of the company's new plant in Chhattisgarh. The plant is expected to be fully commissioned by June, after which the government aims to expedite the strategic disinvestment process.

Key players in the steel industry, including Tata Steel, JSW Steel, Jindal Steel and Power, Adani Group, and Vedanta Group, have shown interest in acquiring the stake. The government, holding a 60.79% stake, plans to offer 10..

NCLAT Halts ATS Projects' Insolvency

The National Company Law Appellate Tribunal (NCLAT) has intervened to halt the insolvency process of ATS Projects, a significant development in the ongoing legal proceedings. This decision comes amidst the insolvency proceedings initiated against ATS Projects, which had faced financial challenges in recent times.

The NCLAT's decision to halt the insolvency process reflects a significant development in the legal proceedings concerning ATS Projects. This intervention underscores the complexity of the case and the need for careful consideration of all aspects before proceeding further with..

IL&FS Seeks MMRDA Approval for Mumbai HQ Transfer

IL&FS (Infrastructure Leasing & Financial Services) has initiated steps to secure fresh approval from the Mumbai Metropolitan Region Development Authority (MMRDA) for the transfer of its headquarters in Mumbai. This move signifies the company's commitment to streamline its operations and realign its corporate infrastructure.

The decision to seek renewed approval from MMRDA comes amid IL&FS's efforts to optimise its resources and enhance operational efficiency. The proposed transfer of its headquarters reflects IL&FS's strategic real estate management approach aimed at consolidating its ..