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Hindustan Zinc divestment: SC lists case after 2 weeks, seeks govt's response on CBI report

Chief Justice of India (CJI), SA Bobde, heading a bench in the matter, asked Solicitor General (SG) Tushar Mehta, appearing on behalf of the government, to find out what the Centre proposes to do pursuant to the CBI report

twitter-logoBusinessToday.In | June 15, 2020 | Updated 15:44 IST
Hindustan Zinc divestment: SC lists case after 2 weeks, seeks govt's response on CBI report
In 2002, the Centre decided to divest its controlling shares in Hindustan Zinc Limited

The Supreme Court on Friday listed the Hindustan Zinc divestment matter after two weeks, giving time to the government to respond on the CBI report. Chief Justice of India (CJI), SA Bobde, heading a bench in the matter, asked Solicitor General (SG) Tushar Mehta, appearing on behalf of the government, to find out what the Centre proposes to do pursuant to the CBI report. Mehta told the court it would study the report and revert following which the SC adjourned the case by two weeks.

Also Read:Hindustan Zinc FY20 profit slips 14% to Rs 6,805 crore; defers guidance for FY21 due to coronavirus

Lawyer Prashant Bhushan, appearing for an association of officers related to the PSU firm, sought the CBI inquiry report. This was opposed by Mehta who said that Bhushan was not a complainant in the case, hence should not get the report.

In the last hearing in the case held on March 4, 2020, the apex court had sought CBI's response on providing a copy of its probe report closing the preliminary inquiry into the disinvestment of the government's shares in the PSU in 2002.

The bench headed by CJI Bobde took note of the submission made by Bhushan that there were corrupt practices in divesting government shares in Hindustan Zinc Ltd during the NDA regime.

On being told by SG Mehta that preliminary inquiry into the case had been closed, the Bench asked him to apprise the court whether it could provide a copy of its closure report to the complainant, who has alleged corrupt practices in the deal.

In 2002, the Centre decided to divest its controlling shares in Hindustan Zinc Limited. A PIL was filed in 2013 seeking CBI probe into the deal and restraining the government from further divesting its shares in the PSU firm.

Also Read: Hindustan Zinc to invest Rs 8,000 crore to expand mining operations

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