 "SAIL")
The government on Wednesday scrapped the privatisation of Steel Authority of India Limited’s (SAIL’s) Bhadravathi plant due to insufficient bidder interest.
The Centre terminated the sale of Visvesvaraya Iron and Steel Plant (VISP) located in Bhadravathi, Karnataka, close on the heels of nixing the privatisation of Central Electronics Ltd (CEL) to Nandal Finance & Leasing saying that the litigation pending against the successful bidder at the National Company Law Appellate Tribunal (NCLAT) violated the eligibility criteria for the sale.
“The cancellation (of the Bhadravathi plant) was long overdue as there was no interest from the bidders in the disinvestment. The private bidders
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