PANEL ON ‘ENEMY’ SHARE PRICE

NEWDELHI: A high-level committee, comprising top bureaucrats, has been constituted to recommend the quantum and price or price band for sale of “enemy shares” — shares held in companies by individuals who migrated to Pakistan or China — worth ₹3,000 crore, according to a home ministry notification. Earlier, Parliament had amended the Enemy Property Act. The amendment prevents those who migrated from having a claim over property left behind in India.

The high-level committee is headed by the Union home secretary, secretary of department of investment and public asset management. The committee will advise the government on the method of sale and also the price band for sale of the enemy shares to the government. But before making the recommendation the committee will seek a go-ahead from the custodian of enemy property.