Vigilance probe ordered into sale of Punjab Tractors

[Parveen Komal]

The Punjab Government Thursday ordered vigilance enquiry into the dis-investment of Punjab Tractors Ltd. to a financial investor. This comes in the wake of allegations that the dis-investment was made on a single bid basis and the process and procedure so adopted was not lawful.
According to an official press release in case the facts are established during the enquiry, the Punjab Govt. shall declare the sale as illegal and shall take back the management from the buyers.
It may be added that the financial buyers had tried to dispose off their holdings at 3-4 times of the bidding price. The Govt. has cautioned the new bidders and anybody participating in the further acquisitions shall be doing so at their own risk and responsibilities.

[Puneet Sood]

Perhaps nothing in India will ever be done without controversy.
Are we habitual to create controversy or we do not have right kind of administration.
Even if there are some honest efforts some people have the tendency to create controversy.
Every effort should be made to make an deal fair and honest.