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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        Case ID :
        Income Tax

        Proposal to Sell 10.82 Percent Stake in Sail

        August 23, 2012

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        Press Information Bureau

        Government of India

        Ministry of Finance

        23-August-2012 17:00 IST

        The government is considering a proposal to sell 10.82 per cent stake in Steel Authority of India Ltd. (SAIL). Out of its shareholding of 85.82%, the Government of India has decided to sell part of paid up equity in SAIL through ‘Offer for Sale of Shares through Stock Exchange Mechanism’ as per SEBI Rules and Regulations.

        This was stated by the Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question in the Rajya Sabha today.

        * * *

        DSM/RS/bs

        Offer for Sale of Shares: proposal to divest part of SAIL equity via stock exchange mechanism, complying with securities rules. Proposal to divest part of the Government of India's equity in Steel Authority of India Ltd. by selling a 10.82 percent stake from its 85.82 percent holding through an Offer for Sale of Shares through Stock Exchange Mechanism in accordance with SEBI rules and regulations.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Offer for Sale of Shares: proposal to divest part of SAIL equity via stock exchange mechanism, complying with securities rules.

                                Proposal to divest part of the Government of India's equity in Steel Authority of India Ltd. by selling a 10.82 percent stake from its 85.82 percent holding through an Offer for Sale of Shares through Stock Exchange Mechanism in accordance with SEBI rules and regulations.


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