NEW DELHI: The Supreme Court docket (SC) on Thursday allowed the Centre to divest the remaining shareholding of 29.5% in Hindustan Zinc (HZL)
“The current authorities can disinvest its remaining 29.5% shareholding in HZL as it’s not in charge of the erstwhile PSU,” the Supreme Court docket mentioned.
The apex courtroom additionally ordered a full-fledged CBI probe into the 2002 disinvestment of Hindustan Zinc (HZL) allegedly at a really low value.
After the divestment, a Vedanta group firm Sterlite took administration management of the corporate.
It mentioned that the disinvestment might be achieved scrupulously following the foundations, laws, and procedures referring to the disinvestment of presidency shares.
The SC order would elevate questions concerning the take care of Sterlite, an investigation into which was stalled when Arun Shourie was the disinvestment minister through the then Atal Bihari Vajpayee authorities
Taking objection to the closure of preliminary inquiry by the CBI, the Supreme Court docket requested the CBI to forthwith register an everyday case and totally examine the 2002 resolution to disinvest its majority shareholding in HZL.
The Supreme Court docket has requested the central probing company to file an everyday standing reviews earlier than it.
“The current authorities can disinvest its remaining 29.5% shareholding in HZL as it’s not in charge of the erstwhile PSU,” the Supreme Court docket mentioned.
The apex courtroom additionally ordered a full-fledged CBI probe into the 2002 disinvestment of Hindustan Zinc (HZL) allegedly at a really low value.
After the divestment, a Vedanta group firm Sterlite took administration management of the corporate.
It mentioned that the disinvestment might be achieved scrupulously following the foundations, laws, and procedures referring to the disinvestment of presidency shares.
The SC order would elevate questions concerning the take care of Sterlite, an investigation into which was stalled when Arun Shourie was the disinvestment minister through the then Atal Bihari Vajpayee authorities
Taking objection to the closure of preliminary inquiry by the CBI, the Supreme Court docket requested the CBI to forthwith register an everyday case and totally examine the 2002 resolution to disinvest its majority shareholding in HZL.
The Supreme Court docket has requested the central probing company to file an everyday standing reviews earlier than it.
Supply: Times of India