ii) floor price, the number of tranches, the basis of allotment and the number of shares to be allotted in each of the tranches to be decided by the EGOM
; the EGOM
may also accept or cancel the offer, if there is not enough demand at or above the floor price; in case of over-subscription in one or more tranches, the EGOM
to decided whether the over-subscribed amount is to be retained subject to the overall disinvestment of 10 percent and,
According to a Press Information Bureau (PIB) release, the government is of the view that the abolishing of GoMs and EGoMs would expedite the process of decision making and usher in greater accountability in the system.
The ministries and departments will now process the issues pending before the EGoMs and GoMs and take appropriate decisions at the level of ministries and departments itself.
Chidambaram now heads seven out of the 15 Group of Ministers (GoM) and two Empowered Group of Ministers (EGoMs), followed by Defence Minister A K Antony who chairs three EGoMs and four GoMs.
Prime Minister Manmohan Singh has also pruned the number EGoMs from the earlier 12 to six at present.
The six EGoMs wound up by the government include those on the Food Security Act, National Highways Development Project, issues related to SEZs, and under-recoveries of oil marketing companies.