The government on Thursday decided to begin sale of shares that are part of “enemy property” belonging to individuals and entities who left India at the time of Partition.
The proceeds from the sale of the shares held by the custodian of enemy property will form part of the disinvestment receipts, law minister Ravi Shankar Prasad told reporters after a cabinet meeting.
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Apart from the sale – with the value of these scrips estimated at around Rs 3,000 crore at current prices – the move signals the government’s decision to dispose of enemy property, for which the government recently enacted a law.