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CPSE strategic sale: Govt makes security clearance mandatory for bidders

According to the performa, any interest of more than 10 per cent in the bidding entity would require disclosures of parentage and beneficial ownership to get a security clearance.

In case the acquirer is a sole bidder, then it has to share with the government details, like nationality, address, parentage, unique ID number of the country of residence and passport number, of its directors and partners.

Also a self-declaration regarding the nature and extent of presence/operation of the bidder in China and Pakistan, if any would have to be provided by them.

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