Speed bumps in disinvestment

RFPs came thick and fast in first couple of weeks of Sep. But now it's time for corrigenda since department discovered mistakes in some of them

The department of disinvestment has been scampering to catch up with the new finance minister. As companies were lined up one after the other, the department churned out requests for proposals (RFPs) calling for intermediaries such as investment bankers, legal advisers and so on. RFPs came thick and fast in the first couple of weeks of this month. But now it’s time for corrigenda since the department discovered mistakes in some of them. There was a corrigendum on the RFP for Neyveli Lignite Corp, where there was an error in the paragraph on employee quotas. Similarly in the document for MMTC, 12,000 shares went missing. Instead of 93,312,000, the RFP had mentioned 93,300,000.