Cabinet sanctions 5% stake sale in NLC Chennai: Upheld as an attempt to nourish the operations, the Cabinet Committee on Economic

Affairs (CCEA) has approved the 5% stake sale in the state-run Neyveli Lignite Corporation (NLC). The initiative is expected to garner about Rs466 crore to the exchequer. The proposal was earlier put forth before the Cabinet by the Department of Disinvestment (DoD) , asking for an approval over sale of over Rs7.8 crore shares, or 5%, through an offer for sale (OFS) mode. However, the Tamil Nadu state government had earlier opposed the disinvestment move in the integrated mining and power generating company. The state government also outlined the initiative as a cause which could create labour unrest and disruption of power supply.

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