The minister told reporters on Tuesday in Pune, where he was meeting with officials from several educational schools, that the new system will be implemented in the 2023-24 academic year, not this year.
IT searches are being conducted at Embassy Group locations in Bengaluru, Gurugram, and Mumbai.
The government anticipated the corporations to sell minority holdings in their pipelines to raise $17,000 crore by transferring them to independent infrastructure investment trusts (InvITs).