The Centre has further tightened its eligibility criteria for public procurements or contracts invited by the Union government and state-owned firms from bidders of countries that share land borders with India, including China and Pakistan.
According to the new General Financial Rules, issued recently, the bidders (from bordering nations) need to compulsorily give an undertaking that registration granted shall automatically stand "annulled" in case of the appointment of new directors or if there is any change in the controlling ownership with the new shareholder owning more ...
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