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SC agrees to have a fresh look at HPCL judgement
New Delhi, Nov 17: For the first time, the Supreme Court today agreed to have a fresh look at its recent judgement on HPCL and BPCL sell-off cases holding that privatisation of PSUs created by legislation required prior approval of Parliament.
New Delhi, Nov 17: For the first time, the Supreme Court today agreed to have a fresh look at its recent judgement on HPCL and BPCL sell-off cases holding that privatisation of PSUs created by legislation required prior approval of Parliament.
Hearing a petition challenging the disinvestment of rail
coach manufacturing company Jessop and Co, a bench comprising
Chief Justice V N Khare and Justice S B Sinha observed that
"we are primarily concerned whether disinvestment requires
parliamentary approval and whether it is legally permitted."
This observation came after Attorney General Soli J Sorabjee contended that though many decisions for privatising PSUs had been taken prior to the September 16 judgement, halting privatisation of oil PSUs for want of prior parliamentary approval, these have now been challenged in many high courts relying on the HPCL judgement.
"The decision of the apex court was not to be applied to all the cases where disinvestment decision was taken prior to the judgement," he said adding certain observations in the HPCL judgement required to be examined afresh as they have far reaching consequences.
Meanwhile, the apex court stayed the proceedings before various high courts on petitions challenging the disinvestment of Shipping Corporation of India (SCI), Hindustan Copper Ltd (HCL) and Burns Standard Corporation Ltd (BSCL) as the Union government today sought transfer of these petitions to the supreme court for a authoritative pronouncement. Bureau Report
This observation came after Attorney General Soli J Sorabjee contended that though many decisions for privatising PSUs had been taken prior to the September 16 judgement, halting privatisation of oil PSUs for want of prior parliamentary approval, these have now been challenged in many high courts relying on the HPCL judgement.
"The decision of the apex court was not to be applied to all the cases where disinvestment decision was taken prior to the judgement," he said adding certain observations in the HPCL judgement required to be examined afresh as they have far reaching consequences.
Meanwhile, the apex court stayed the proceedings before various high courts on petitions challenging the disinvestment of Shipping Corporation of India (SCI), Hindustan Copper Ltd (HCL) and Burns Standard Corporation Ltd (BSCL) as the Union government today sought transfer of these petitions to the supreme court for a authoritative pronouncement. Bureau Report