Three PSUs to divest stake in DPCS

The combined 57% holding of public sector Andrew Yule, Life Insurance Corp and United India Insurance in DPCS Ltd, a power generating company, will be disinvested through an auction on Friday. Andrew Yule chairman Kallol Datta said the bidding would start at 2pm on Friday under the supervision of a senior high court advocate, following which the highest bidder s price would be auctioned. In general, interested parties submit sealed tenders and the highest bidder gets the stake. The Calcutta High Court on Wednesday overruled a Company Law Board order, which said only Descon, the largest shareholder in DPSC, would be ...

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