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Lack of clarity over the proposed disinvestment in Bengal Chemicals and Pharmaceuticals is threatening its turnaround.
A company executive said 16 state governments that bought generic drugs from Bengal Chemicals were questioning its ability to meet supply contracts as its future was yet to be decided by the Centre.
The Union Cabinet had in December approved strategic equity sales in Bengal Chemicals and Hindustan Antibiotics, in which it holds 100 per cent stakes.
“Questions are being asked by our clients over the future of the company,” the executive said, adding this could dent sales and discourage potential customers.
PM Chandraiah,
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