Government plans to transfer BSNL land, debt to SPV; union alleges undervaluation of assets

NEW DELHI: The government is mulling to transfer land assets and loans of loss-making BSNL to a special purpose vehicle in an effort to make the state-owned telecom firm a debt-free entity.

Employees Union of BSNL, however, has alleged that the land parcels proposed to be transferred to the SPV at a value of Rs 20,210 crore are at prime locations of big cities and are “grossly undervalued”.

BSNL management denied the allegations saying the valuation has been done only on an indicative basis and final valuation will be done before disposing of the proposed land parcels.