Business Standard

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

Indian rupee

Photo: Bloomberg

Nikesh Singh New Delhi

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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

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First Published: Jun 20 2023 | 7:52 PM IST

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