Financial Daily from THE HINDU group of publications
Thursday, Apr 04, 2002
Financial Daily from THE HINDU group of publications Thursday, Apr 04, 2002 |
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Disinvestment Industry & Economy - Disinvestment RIL not to be disqualified from IPCL bidding Our Bureau
NEW DELHI, April 3 RELIANCE Industries Ltd (RIL) will not be disqualified from bidding for IPCL or any other PSUs, the Union Minister for Disinvestment, Mr Arun Shourie, said here on Wednesday. Mr Shourie disclosed that the CBI charge-sheet against Reliance under the Official Secrets Act did not warrant a disqualification as per the guidelines issued by the Ministry, since the offence does not relate to national security. "This is a non-security related offence. So, a mere charge-sheet will not suffice. In this case, a conviction by a court of law alone would attract disqualification," Mr Shourie told reporters here. The Minister said he had examined the matter thoroughly and had come to the conclusion that none of the documents recovered from Reliance officials pertained to national security. While one of the documents relate to monopoly issue in disinvestment transactions, the other was in the nature of a clarification on excise duties; the third dealt with measures to put the economy back on rails in the wake of the sanctions imposed after the nuclear tests in May 1998. "None of these three relates to national security," Mr Shourie said.
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