Following the CBI deciding to hold a preliminary enquiry (PE) into the alleged sale of 64.94 per cent stake to the Vedanta Group, the CPI(M) has sought an inquiry into the closure of the HZL unit here by the apex investigating agency.
The Supreme Court in its judgment on the sale of BPCL and HPCL stake observed that public sector units were formed by an Act of Parliament and more than 50 per cent stake should not be sold without Parliament’s approval, CPI(M) State secretariat member Ch. Narsing Rao said in a statement here on Wednesday. The CBI deciding to investigate had brought to light how the stake was given to the Vedanta Group by the then NDA government, he said.
He said four zinc smelters, mines at eight places and thousands of acres of land was sold for Rs.1,000 crore and alleged that it was not even 10 per cent of the actual value.
Mr. Narsinga Rao said the probe should have been taken up long time ago.‘Illegal closure’
He alleged the zinc plant here was closed “illegally” from February 7 and hundreds of workers were forced to reach a settlement and the company was planning to use 365 acres of land for cargo handing. The CBI PE should include the closure also, Mr. Narsinga Rao demanded.