The Hindu : SC notice to Centre on HCL disinvestment

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Saturday, Nov 08, 2003

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SC notice to Centre on HCL disinvestment

By J. Venkatesan

NEW DELHI NOV. 7. The Supreme Court today issued notice to the Union Finance and Disinvestment Ministries on a petition challenging the privatisation process initiated by the Centre for Hindustan Copper Ltd (HCL).

A Bench, comprising Justices S. Rajendra Babu and G.P. Mathur, issued notice on a petition filed by the Khetri Tamba Shramik Sangh and others which sought a direction to the Government not to privatise the HCL without parliamentary approval as the constitution of HCL was in pursuance of the Indian Copper Corporation (Acquisition of Undertaking) Act, 1972.The Bench directed that this petition filed by the four trade unions be tagged along with another petition questioning the disinvestment of Jessop and Co, a railway coach manufacturing company.

The petitioners contended that they were aggrieved over the illegal, arbitrary and unconstitutional operation of the disinvestment process by transferring the present management of HCL to private management without amending or repealing the 1972 Act.

They pointed out that in the HPCL/BPCL disinvestment case, the apex court had held that parliamentary approval was necessary before the Government initiated the process of disinvestment in HPCL/BPCL.

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