Agencies
New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi has approved a mechanism for sale of enemy shares which at the current price is estimated at around Rs 3,000 crore.
A total number of 6,50,75,877 shares in 996 companies of 20,323 shareholders are under the custody of Custodian of Enemy Property of India (CEPI).
The decision, taken by the Union Cabinet, will lead to monetisation of movable enemy property lying dormant for decades and the proceeds will be used for development and social welfare programmes, an official statement said. |
