The government has become flexible to the interests of buy-ers as it looks to move ah-e-a-d with its ambitious privatisation drive. The government, in pre-bidding consultations, has informed potential buyers of public sector undertakings (PSUs) that they will not be held liable for any claims arising prior to the sale of state-owned entities.

       This will be done through the representation and warranty clause in the share purchase agreement, which is a shift from the government’s earlier stance of selling assets on an ‘as is where is’ basis. This ...