Chennai, June 26 -- Tamil Nadu Chief Minister Joseph Vijay formally wrote to Prime Minister Narendra Modi, strongly opposing the Union Government's decision to proceed with the proposed disinvestment of its equity in Neyveli Lignite Corporation India Limited (NLC).

The proposed move involves an offer for sale of up to 3% of paid-up equity, consisting of a 2% base offer and an additional 1% green-shoe option.

In his correspondence, the Chief Minister emphasised that the Government of Tamil Nadu views NLC India not merely as a listed company, but as a "strategic national asset" vital to energy security, mineral development, and critical infrastructure.

The state argued that any dilution of government equity sets a dangerous precedent reg...