DISINVESTMENTS CELL IN DCA

---

The Department of Company Affairs (DCA) has set up a separate Disinvestments Cell to facilitate quick completion of procedural requirements under the Companies Act and to speed up disinvestments process. The Cell examines all matters concerning the proposals circulated by the Ministry of Disinvestments on priority basis.

Apart from presenting the views of DCA relating to various disinvestments proposals, it takes up pro-active measures to give quick clearance under various provisions of the Companies Act even before the actual disinvestments process like approval for payment of special dividend in the matter of VSNL and approval of de-merger proceeding in the disinvestments process of ITDC hotels and others like IBP begins. Apart from this, matters requiring approvals under the Companies Act after formal decisions regarding disinvestments are also being taken up on priority basis. Besides, approvals under Section 108A of the Companies Act are being issued on time.

The DCA has been acting as facilitator for disinvestments process in the Government to accelerate its pace.