New Delhi, Oct 13: The Union government today submitted before the Supreme Court that the judgement on privatisation of Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) required "serious reconsideration" as it had wide implications on the disinvestment process and cast clouds on it. This was submitted by Attorney General Soli Sorabjee before a bench comprising Chief Justice V N Khare and Justice S B Sinha during the hearing of a petition challenging the privatisation of railway coach manufacturing firm Jessop & Co Ltd.
The bench adjourned the matter for two weeks as the petitioner organisation sought time to file rejoinder to the government's stand.
Sorabjee said some parts of the apex court's judgement required serious reconsideration as the judgement's potential ramification and wide repercussion "cast clouds on the entire disinvestment process."
This submission came when the bench asked Sorajbee whether the petition in the Jessop & Co privatisation needed to be allowed in the view of the recent judgement stalling the privatisation in HPCL and BPCL till Parliament approval.
The Attorney General said in the HPCL and BPCL judgement the court's perception "of the constitutional angle" according to which the government would have to take prior Parliament approval for dismantling (sale) of every company even if not set up under a statute but formed by government funds from the Consolidated Fund of India, would require reconsideration. Bureau Report