Hindustan Zinc’s stake sale has reportedly been cleared of legal issues. Similarly, the legal hurdles surrounding divestment in Bharat Aluminium Company’s (BALCO) stake sale too have been cleared.
Majority stakes in both these companies were sold to Vedanta group during 2001-2003 and now the government has a residual stake of 29.5 percent and 49 percent in Hindustan Zinc and Bharat Aluminium Company (BALCO) respectively.
Meanwhile, the government has budgeted Rs 14,000 crore from residual stake sale in companies like Hind Zinc.
