After the successful privatisation of Air India, the Modi government has now stepped up efforts to sell another state-owned company, Central Electronics Limited. The government has received financial bids for the sale of this company. The Finance Ministry has reported that the government has received a financial bid for 100 per cent participation of Central Electronics Limited and transfer of management control.
On Tuesday, DIPAM Secretary Tuhin Kant Pandey tweeted, "Finance Yil bid for strategic disinvestment of Central Electronics Limited has been received. The process for the same is now in the final stages. As per the terms of the letter of disinterest, the company that purchases it should have a net worth of at least Rs 50 crore by March 2019. She cannot sell the partnership purchased in CEL to anyone else for the next three years.
It may be recalled that Central Electronics Limited is a central government engineering company. Its factory is available at Sahibabad in the Ghaziabad district of Uttar Pradesh. The company manufactures solar photovoltaics, ferrites and piezoceramics. It first built solar cells in India in 1977 and solar panels in 1978. It was in India that it first established a solar plant in 1992. It first produced crystalline flexible solar panels in 2015 which are produced to get energy by installing them on the roofs of trains.