Cabi­net clears sale of 'en­emy shares'

India Business Journal - - MISCELLANEOUS -

The Cabi­net has given its ap­proval to sell shares held by those who had left for Pak­istan dur­ing the Par­ti­tion and bill the pro­ceeds to dis­in­vest­ment gains. An of­fi­cial state­ment has said, "In-prin­ci­ple ap­proval has been ac­corded for sale of en­emy shares un­der the Cus­tody of Min­istry of Home Af­fairs/ Cus­to­dian of En­emy Prop­erty of In­dia, ac­cord­ing to sub-Sec­tion 1 of Sec­tion 8A of the En­emy Prop­erty Act, 1968." Brief­ing re­porters af­ter the Cabi­net meet­ing last month, Min­is­ter for Law and Jus­tice and Elec­tron­ics and In­for­ma­tion Tech­nol­ogy, Ravi Shankar Prasad, said, "There are 6,50,75,877 shares in 996 com­pa­nies that will be sold."

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