Govt. notice to Hinduja group

NEW DELHI, JULY 25. The Government today issued notices to the Hinduja group and Sterlite Industries to show cause why they should not be disqualified from bidding for public sector equity. This is aimed at keeping out charge-sheeted or debarred companies from the disinvestment exercise. Another SEBI-debarred company, Videocon, has already announced its withdrawal from the race for stake in Indian Airlines but notice has also been issued to Credit Suisse First Boston, adviser for privatisation of the Videsh Sanchar Nigam Limited (VSNL). The companies have been asked to explain their position within 15 days, official sources said.