A first: NLMC prepares groundwork for DRT-like bid of assets by September

Asset transfers to the corporation are getting held up due to delay in clearance by states

The National Land Monetisation Corporation (NLMC) is planning to conduct its first auction of small-sized immovable assets of certain central public sector enterprises (CPSEs) as a trial run by the end of the July-September quarter of 2023-24 to prepare for a large asset sale later.

“No big assets have been transferred to NLMC as yet. The company is working to develop a process to conduct the valuation and auction of these assets,” a senior finance ministry official told Business Standard.

NLMC was incorporated in June last year as a wholly-owned government company to carry out monetisation of surplus land parcels