Sale of Enemy Shares

The Union Cabinet on November 8 approved the mechanism and procedure for sale of the enemy shares.

Details

  • ‘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 (CEPI), as per sub-section 1 of section 8A of the Enemy Property Act, 1968.
  • Department of Investment and Public Asset Management has been authorized under the provisions of sub-section 7 of section 8A of the Enemy Property Act, 1968, to sell the same.
  • Sale proceeds are to be deposited as disinvestment proceeds in the Government Account maintained by Ministry ....

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