 "accounting services, legal services, indian business, judiciary, jurisdiction,law practitioner,Dinesh Kanabar,Institute of Chartered Accountants of India, ICAI, charted accountant, N D Gupta,National Advisory Committee on Accounting Standards , NACAS")
The central government has appointed RBSA Advisors as the valuation advisor for disinvestment of its stake in REC Limited (REC) to Power Finance Corporation Limited (PFC).
The Cabinet Committee on Economic Affairs had given 'in principle' approval for the strategic sale of the Government of India's existing 52.63 per cent of the total paid up equity shareholding in REC to PFC, along with the transfer of management control. Upon completion of the transaction, REC will become a subsidiary of PFC.
The transaction could create operational synergies, as both PFC and REC operate in the same business segment.
The Centre's stake
