RSS objects proposed sale of government stake in ITC and L&T

NEW DELHI: Raising objection to the proposed sale of government stake in ITC and L&T held through SUUTI, an RSS body has sought the Prime Minister’s intervention in stopping the sell-off, which it said would send wrong signals to investors.

Urging Prime Minister Narendra Modi to stop the stake sale , RSS-affiliate Swadeshi Jagran Manch said, "If carried forward, this decision will have far reaching consequences that go beyond normal disinvestment criterion."

"Recognising the strengths of ITC and L&T, certain vested interests are constantly trying to destabilise and inducing disinvestment in these national champions enabling BAT and other foreign entities to take control of these companies,"Swadeshi Jagran Manch national co-convener Ashwani Mahajan said. He said ITC and L&T are building brands and capabilities for the future.