The lock-in period that prevents new teams from selling a stake will end in February 2025.
The move is aimed at ensuring timely action on graft complaints and checking inordinate delays, officials said on Monday.
Addressing the 'Vigilance Awareness Week' organised by the Central Vigilance Commission (CVC), the prime minister exhorted the panel, other agencies and officers to ensure that no corrupt person is spared no matter how powerful the individual may be.
Listing risks watering down the high-risk, high-reward model that is fundamental to CVC’s culture and will also test its ability to modernise
Suresh N Patel made and subscribed the oath of his office before President Droupadi Murmu, it said.
At the time of approaching the commission for advice in respect to any prosecution sanction case, the chief vigilance officer (CVO) should mention whether the case is eligible to be referred to the advisory board along with the date of reference besides details of the recommendations given by it, the CVC said.
The move comes after it noticed that departmental inquiries in a few instances were held up or slowed down due to non-availability of listed documents or delay in procuring/producing them during the course of inquiry.
The two private-equity firms have held exploratory talks about the potential for a joint offer, the report added, quoting people asking not to be identified as the talks are private.
Private equity firm CVC Capital Partners, which has interests in rugby, football and other sports, makes its India debut with a successful Rs 5,625-crore bid for the Ahmedabad team
Rakesh Asthana is presently is working as the Director-General of the Bureau of Civil Aviation Security (BCAS).
The committee has also chosen by a majority decision, former Information and Broadcasting Secretary Bimal Julka, currently serving as an Information Commissioner, as the new Chief Information Commissioner in the Central Information Commission.
The panel in its previous avatar called the Advisory Board on Bank, Commercial and Financial Frauds.
A total of 57 cases involving these officers are pending sanction for prosecution from different government organisations, according to latest data by the probity watchdog.
The Lokpal, which is yet to be set up, was given Rs 4.29 crore for 2018-19.
Jaitley, who speaking to reporters in the Parliament complex after the Supreme Court gave orders to reinstate CBI director Alok Verma, said the government would comply with the orders of the apex court.
Chief vigilance officers act as a distant arm of the CVC to check corruption and other fraudulent activities in an organisation.
Solicitor General Tushar Mehta, appearing for the CVC, referred to apex court judgements and laws governing the CBI and said the Commission's superintendence (over the CBI) encompasses "surprise, extraordinary situations".
A bench headed by Chief Justice Ranjan Gogoi said the CVC report should also be given to Attorney General K K Venugopal and Solicitor General Tushar Mehta.
A bench comprising Chief Justice Ranjan Gogoi and Justice S K Kaul took the report on record and fixed the next hearing on November 16.
The court had appointed former apex court judge AK Patnaik to supervise the ongoing inquiry of CVC against Verma
Verma appeared before the panel headed by Chowdary and comprising Vigilance Commissioners Sharad Kumar and T M Bhasin among others, they said, without citing any other details.
There are no guidelines in place to handle complaints against the CVC, the ministry said in response to an RTI query.
The apex court directed that interim CBI chief M Nageswara Rao shall not take any major policy decisions. Decisions taken by him since October 23 till date shall not be implemented, it said.
The CVC analysis shows the lacunae in the credit appraisal and monitoring process.
It, however, clarified that the Commission's advice is for change from the sensitive seat/post, and not necessarily from the station, which is to be governed by the policy of respective organisations.