72 luxury cars bought by debt-laden IL&FS to go under the hammer soon; asset sale continues amid rising defaults
The Uday Kotak-led board appointed by the government at IL&FS Group will auction the fleet of the luxury cars for which the company will issue advertisements initiating the bidding process.
Pawan Hans sale: Bidders to get draft share purchase pact soon; SBI Capital to be asked to go ahead with RFP
The decision was taken by the alternative mechanism on strategic disinvestment headed by Finance Minister Arun Jaitley and comprising Civil Aviation Minister Suresh Prabhu.
Valuers have a greater role to play in asset valuation rather than in share valuation.
Metal and cement companies have bid aggressively for coal blocks in the first auctions to sell mines as they look to cut imports and their dependence on inefficient government monopoly Coal India Ltd.
The new bidding norms being formulated for power projects may not require approval from the Empowered Group of Ministers, easing regulatory hurdles for developers.