The heavy industries ministry has cleared outright sale of sick state-run companies Scooters India and HMT Bearings in a clear departure from its divestment policy that focused on sale of small stakes in profit-making firms.
The government holds 95% in Scooters India and 97% in HMT Bearings through HMT. The two companies together incurred losses of around 37 crore in the fiscal year ended April last.
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