Supreme Court stays Hindustan Zinc privatisation

Tuesday, 10 February 2004, 20:30 IST
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NEW DELHI: The Supreme Court Monday stayed the proceedings in a writ petition challenging the privatisation of Hindustan Zinc Ltd (HZL). The Jodhpur bench of the Rajasthan High Court is hearing the petition. A Supreme Court bench comprising Chief Justice V.N. Khare and judges S.B. Sinha and S.H. Kapadia also deferred for six weeks hearing of petitions challenging the privatisation of Jessop and Co, National Fertilizer Ltd and Engineers India Ltd as notice had not been served on them. In the Jessop case, the staff association had appealed in the Supreme Court against a Calcutta High Court verdict permitting the disinvestment process to go ahead. The government had urged the transfer to the Supreme Court of cases against privatisation pending before the high courts. This was after the apex court agreed to reconsider its decision that the government could not shed its stake in oil majors Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd without parliamentary approval.
Source: IANS