Government puts brakes on CEL privatisation after employees union approaches court.

Posted by: Nitin Negi 13 January 2022

The Letter of Intent (LoI) for sale of 100 per cent government shareholding in CEL to Nandal Finance & Leasing has not been issued, as the allegations are being examined, Pandey told PTI.

Allegations of under-valuation in the Rs 210 crore highest bid made by the city-based Nandal Finance & Leasing are being examined, said Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM), which is run. The government has put on hold the privatisation of Central Electronics Ltd (CEL) after the employees union approached the court against the sale of the company to a little-known firm, a top official said Wednesday. Allegations of under-valuation in the Rs 210 crore highest bid made by the city-based Nandal Finance & Leasing are being examined, said Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM), which is running the privatisation process.

As the CTO, he will be working closely with business, product, and operations to align technology with the organisation’s objective. He is going to build upon the existing technology foundation, strengthening it further through the right processes. Talent acquisition and management company Mercer|Mettl |Mettl has appointed Amit Pal Singh as CTO to lead its technology and engineering functions, said a statement issued today. Singh will drive organisation’s technological vision to support its growth journey in the coming years.

Singh comes with a rich and vast experience of nearly two decades and has served at leadership positions across education, publishing, retail, and IT sectors. In his last role at Highwire Press, he led teams globally to build scalable cloud platforms and solutions for the publishing industry.

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Mercer|Mettl has appointed Amit Pal Singh as CTO to lead its technology and engineering functions

He has also served in the capacity of CTO at Aakash Education, where he was instrumental in the growth of the company's edtech capabilities and digital learning business. He has also worked with HCL Technologies, Gionee India, and Headstrong in his earlier roles.

As the chief technology officer, he will be working closely with business, product, and operations to align technology with the organisation’s objective. He is going to build upon the existing technology foundation, strengthening it further through the right processes, tools, and structures.

The government had in November approved the sale of CEL, under the Department of Scientific and Industrial Research (DSIR), to Nandal Finance & Leasing for Rs 210 crore. The transaction was scheduled to be completed by March 2022.

“I am sure my experience aligns with the company’s vision of building and scaling the next-generation technology competencies required to make globally competitive products and solutions," said Singh.