7/4/2014 DoD selects RBSA for valuing Hindustan - Economic Times

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RELATED ARTICLES DoD selects RBSA for valuing Yet to hear from govt on HZL, Balco stake sale: Hindustan Zinc Vedanta October 9, 2013 PTI Jul 2, 2014, 05.43PM IST

Government likely to sell Hindustan Zinc stake Tags: Zinc | net worth | Life assured | Insurability | IFCI Ltd | Hindustan Zinc via OFS; may... NEW DELHI: The Finance Ministry has shorlisted RBSA June 16, 2014 Valuation Advisers for undertaking fresh valuation of Can't commit a specific timeline on HZL stake Hindustan Zinc (HZL) and push through a long-pending sale sale: Mines... of the government's residual stake in the company in the October 23, 2013 current financial year.

IN-DEPTH COVERAGE The Department of Disinvestment (DoD) today shortlisted RBSA Valuation Advisers for the purpose, sources said. Hindustan Zinc Dod (The FinMin has shorlisted…)

SPOTLIGHT Others who were contending for the job include IFCI Ltd, Resurgent Ltd and SPA Capital Advisers.

Tax Update BuTdhgee Dt oSDp heacdi alalst month invited proposals from merchant bankers or chartered accountant firms with experience in handling valuation of companies to assess fair share value of HZL.

HZL had a paid-up capital of Rs 845 crore as of March 31, 2013. The government holds a 29.54 per cent stake in the company.

The government sold majority stakes in the erstwhile PSU to the Vedanta group during 2001-03. At present, London-listed Vedanta holds a 64.92 per cent stake in HZL.

Last October, Vedanta shareholders approved increasing the offer to acquire the government's remaining stake in HZL.

The Vedanta board is now empowered to make an offer of up to Rs 21,636.56 crore for the government's stake. Taxpayers to share their mobile no 'Tax deduction limit could be in I-T returns raiAste tdhe t cou rRresn t 3sLha're price of Rs 172.10, the HZL stake sale would fetch about Rs 21,000 crore. The new step has been taken in order to We are expecting basic exemption limit can go The department was waiting for the general elections to get over before proceeding with the appointment of communicate directly with the taxpayer with up from Rs 2 lakh to Rs 3 lakh, that is, people valuers for HZL. regard to any issues arising after the returns are earning up to Rs 3 lakh will not have to pay any filed. tax.FEATURED ARTICLES 15 key changes in this year's Income Tax People bridging the North-South divide in return forms India Four tax-relief measures that home-buyers GST prospects brighten as Centre, states need resolve differences

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