No takers for Optel goods | india | Hindustan Times
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No takers for Optel goods

india Updated: Feb 11, 2007 19:26 IST

THOUGH THE process for an auction of Optel Communications, a State Government-owned PSU has begun, there are no takers for its goods so far.

The only interested buyers seem to be junk dealers. The bank and Optel management, who are waiting for good buyers, are considering inviting tenders once again.

The bank is trying to recover repayment of loan from the PSU unit, lying closed for the past ten years. The State Bank of India (SBI) plans auctioning the belongings of the Optel in parts. For this, it had advertised in a national-level English and a local newspaper also.

The management also contacted other telecommunication companies, including Airtel and Sterling, in this connection but to no avail.

Only one party’s bid for Rs 22 lakh has been approved so far, but the party is interested in other items.

Junk dealers, who are interested in goods, are not likely to be entertained by the bank for low prices offered by them. Officer in charge of Optel PS Dhyani (Senior General Manager of Madhya Pradesh State Electronics Development Corporation) admitted that the auction process began but good buyers were awaited.


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