The Department of Commerce has flagged concerns over the valuation of companies under strategic divestment, citing the case of Neelachal Ispat Nigam (NINL). This has led to the government going back to the table on the method of valuing a public sector enterprise.

       The commerce department has objected to the enterprise value methodology used by the finance ministry’s Department of Investment and Public Asset Management (DIPAM) for valuing NINL for its strategic divest-ment along the lines of Air India. The ministry had signposted this, saying it is not the “generally ...