NEW DELHI: Giving more autonomy to state-owned companies, the Cabinet on Wednesday empowered their boards to decide on the closure and divestment of units/ subsidiaries.
Presently, the board of directors of holding or parent public sector enterprises have powers to make decision on equity investments for setting up joint ventures (JVs) and wholly-owned subsidiaries and undertaking mergers/ acquisitions, subject to a net worth threshold.
This story is from the May 19, 2022 edition of Millennium Post Delhi.
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This story is from the May 19, 2022 edition of Millennium Post Delhi.
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