Larger SC Bench to examine disinvestment issues

NEW DELHI, OCT. 11. A larger Bench of the Supreme Court will examine the disinvestment issues involved in six public sector units of Jessops and Co., Hindustan Petroleum Corporation Ltd., Bharat Petroleum Corporation Ltd. and three others.

A Bench of Justice N. Santosh Hegde and Justice S.B. Sinha referred the matter to the Chief Justice for posting a batch of petitions for hearing by a larger Bench after the Attorney General, Milon K. Banerjee, told the court that the Government was examining the disinvestment policy and would soon come out with its decision.

Transfer of cases

The Bench admitted the Centre's petition seeking transfer of all cases pending before various High Courts on disinvestment of PSUs to the apex court.

The petitions included those relating to the disinvestment of the Shipping Corporation of India (SCI), Hindustan Copper Ltd (HCL) and Burns Standard Corporation Ltd (BSCL).

After the apex court held that parliamentary approval was necessary for disinvestment of HPCL/BPCL, the previous Government sought a review of the same in its counter to the special leave petition filed by the Jessops Staff Association.

Today the Attorney General told the Bench hearing a batch of petitions, including an SLP challenging the disinvestment of the Kolkata-based Jessops and Co, that the new Government was reviewing the disinvestment policy adopted by the NDA Government and would frame an appropriate policy.

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