FSNL Divestment

The eligibility criterion for bidders included a mandatory net worth of at least Rs 150 crore and a PAT in at least two of the immediately preceding five financial years

The last date for submitting initial bids for the privatisation of FSNL has been extended to June 17

The sale would also involve transfer of management control in the PSU which is a 100 per cent subsidiary of state-owned MSTC

The finance ministry on Thursday invited bids from asset valuers to assist the government in the strategic sale of Ferro Scrap Nigam Ltd (FSNL).

Centre believes FSNL has no tangible assets barring machinery