DIRECTORATE OF PUBLIC ENTERPRISES
AND DISINVESTMENT, PUNJAB
1. Punjab Tractors Ltd: The Council of Minister vide its decision in June 2002 decided that PSIDC's 23.49% shareholding in PTL may be disinvested. Accordingly, Expressions of Interest were invited by 5.1.2003 and technical & financial bids were invited by 25.7.2003. After following the procedure laid down, disinvestment has been carried out in favour of M/S CDC at a rate of Rs. 153/- per share amounting to Rs. 218.00 crore.
Share Purchase Agreement was executed on 30.7.2003. Preliminary closing took place on 12.9.2003 after receipt of FIPB & RBI approvals and Final Closing took place on 5.12.2003.
2. Punjab Tourism Development Corporation:
3. A decision to liquidate The Punjab State Cooperative Spinning Mills Federation Ltd. (SPINFED) was taken on 30.4.2003. VRS given to all the employees and Coop. Spg. Mills at Goindwal, Kotkapura & Tappa has been disposed off finally. The plant & Machinery of Bathinda and Abohar Coop. Spg. Mills has been disposed but the land of these Coop. Spg. Mills is yet to be disposed off.