SRINAGAR, Oct. 27 -- The Administrative Council (AC), which met here under the chairmanship of Lieutenant Governor, Manoj Sinha, approved the proposal of Industries and Commerce Department regarding complete sale of Jammu and Kashmir Cements Limited through ascending e-auction from qualified bidders.

Farooq Khan and Rajeev Rai Bhatnagar, Advisors to the Lieutenant Governor, Dr. Arun Kumar Mehta, Chief Secretary, J&K and Nitishwar Kumar, Principal Secretary to the Lieutenant Governor attended the meeting.

The decision has been taken in view of sharp decline in production and revenues from 2012-13 onwards. .

Over the loss making years, the company has been burdened by its own liabilities on account of salaries/bills raised by the contrac...