NEW DELHI: In the latest report submitted to the Indian government, the Disinvestment Commission has chalked out methods to privatize Telecommunications Consultants India Ltd through sale and merger of Semiconductor Complex Ltd with another PSU. Moreover, after privatisation, the Government should hold at least 26 per cent stake in TCIL for a period of 3 - 5 years. The transaction documents for the sale should make adequate provisions to ensure that TCIL may take on deputation engineers and experts from the Department of Telecommunications (DoT)/Bharat Sanchar Nigam Ltd for 3 - 5 years. Similarly, the Commission has suggested that DoT's association with TCIL for sourcing expertise as well as for business development, for a few years, would ensure continuity and provide comfort to the clients and prospective partners. Appropriate clauses in this regard may be included in the transaction documents of strategic sale. The Commission has also said that the Government should explore suitable incentive schemes such as employee stock option plan/employee stock purchase scheme to ensure retention of employees on deputation from TCIL as well as of other technical workforce. The Commision suggested that the Government should also draw up a financial and corporate restructuring package for TCIL in consultation with prospective buyers prior to disinvestment to enhance its value.
Source: IANS