PSUs

HC notice to Centre over BEML disinvestment

By IndianMandarins- 20 Jan 2022
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hc-notice-to-centre-over-beml-disinvestment

New Delhi (20.01.2022): A Division Bench of Chief Justice Ritu Raj Awasthi and Justice Suraj Govindaraj sought responses from the Centre as well as Bharat Earth Movers Limited (BEML) in the petition filed by trade unions of the public sector undertaking (PSU). The next hearing is on February 10.

The petitioners challenged the in-principle approval given by the Cabinet Committee on Economic Affairs for disinvestment of 26 per cent equity in BEML out of the government of India’s 54.03 per cent shareholding of defence PSU. The petitioners said that should the proposed privatization of BEML go through, it will be the first time in Indian history that the Ministry of Defence will compromise India’s sovereignty and economic freedom and be a threat to the security of the nation.

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