Competition Commission of India  

CCI organises a National Conference on Competition Law to celebrate the Azadi ka Amrit Mahotsav as part of Iconic Week of Ministry of Corporate Affairs in New Delhi (11 JUN 2022)

The Competition Commission of India (CCI) organised a National Conference on Competition Law as part of the ongoing Azadi ka Amrit Mahotsav (AKAM) here today.  Shri Rao Inderjit Singh, Minister of State (Independent Charge), Ministry of Statistics & Programme Implementation; Ministry of Planning and Minister of State for Corporate Affairs was the Chief Guest on the occasion.

The Union Minister of State released a film capturing the 13 years of the Commission’s journey, in addition to releasing the special edition of Fair Play, the quarterly newsletter of CCI, themed on AKAM, as well as competition advocacy booklets in regional languages. He also felicitated the winners of the essay and quiz competitions held earlier.

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FINANCE NEWS 

Finance minister Nirmala Sitharaman says disinvestment not for shutting down CPSEs, but to make them more efficient ( JUNE 11, 2022)

Addressing the iconic week celebrations of Department of Investment and Public Asset Management (DIPAM) as part of 'Azadi ka Amrit Mahotsav' here, Sitharaman said privatisation of CPSEs is intended at ensuring that these companies are run efficiently and cost-effectively.

The government has also lined up over half a dozen companies for strategic sale. These include Shipping Corp, CONCOR, Vizag Steel, IDBI Bank, Nagarnar Steel Plant of NMDC and HLL Lifecare.

 So far in the current fiscal year, the government has mopped up over Rs 24,000 crore from CPSE disinvestment. The target for the full fiscal year has been set at Rs 65,000 crore.  In the last fiscal year, over Rs 13,500 crore was realised via CPSE disinvestment, which also includes the amount realised via privatisation of Air India.

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WORD OF THE DAY

Slump sale is the transfer of a business undertaking or some division of a company or entity to another entity as a going concern basis on an as-is-where-is basis for a lump sum amount as consideration. 

A going concern basis basically means that an entity will remain in business in the near future.

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