Loyalty is passé in the modern time and professionalism is the buzzword in the contemporary corporate world. The reasons of employee attrition are also changing. Now-a-days employee leaves an organization for many reasons. Some leave for growth, some leave for some family problems but majority of people switchover jobs due to only one reason that is DISSATISFACTION. Undoubtedly satisfaction and dissatisfaction sort of things have different meaning for different people but having majority of people satisfied is pretty germane for sustainable growth and high level of productivity in any organization. A threadbare analysis of attrition brings some major concerns like not having objectivity in job allocation, employee recognition and fairness in career advancements for consideration. They are also important causes of dissatisfaction for employees in organizations. This dissatisfaction finally gets a vent in the form of changing the job. This subjectivity in the issues of employee handling is the key for dissatisfaction. Management Control System is fully capable of bringing objectivity in the organization and managing this dissatisfaction which would finally be translated into high employee retention, and better productivity and better organizations.

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There has been phenomenal and tremendous growth of PE's in India. They were established to attain the 'commanding heights' of the economy of the country and achieve rapid growth of industrialization and economic development. Some of these PEs later became 'white elephant' and started incurring losses. Several of them became chronically sick industries. The Govt. declared the disinvestment process, which began in 1991 with the sale of minority stakes in some PE's, shifted focus to strategic sales during 1999-2000 to 2003-04. The present UPA Govt. announced that, all disinvestment will be considered on a transparent and consultative case-by-case basis. The Govt. has approved the constitution of a "National Investment Fund" comprising of proceeds from disinvestment. The present paper is an attempt to discuss same important issues such as restructuring, valuation of equity, Mechanism of disinvestment, Application of disinvestment proceeds, Parliamentary approval and political issues. ...