The Supreme Court on Friday issued notices to the union government and public sector HPCL and BPCL on a PIL challenging the centre’s decision to privatise the two oil refiners. A bench comprising of Chief Justice V. N. Khare and Justice S. B. Sinha issued the notices on a petition filed by the Oil Sector Officers’ Association, challenging the decision of the government to disinvest its stake in the two oil PSUs. Petition challenging SCI sell-off rejected MUMBAI: MUMBAI High Court dismissed a petition challenging Centre’s move to privatise Shipping Corporation of India (SCI). The petition, filed by employees association of SCI, was dismissed by Justice R. M. Lodha and Justice A.S. Aguiar, who said there was no justifiable grounds to oppose privatisation. PTI The bench also issued notices to respondents on an interim prayer of the petitioner seeking stay of the disinvestment. Arguing for the petitioner, senior advocate F. S. Nariman said the government could not have disinvested its share in the oil PSUs through an executive order as it had to enact a parliamentary legislation to this effect.The government had on January 26 decided to sell its 34.01 per cent stake in HPCL to a strategic partner and offload its 35.02 per cent stake in BPCL through public offering in domestic and overseas capital markets. After the proposed disinvestment and offer of 5 per cent stake at concessional rates to employees, government’s shareholding in HPCL was to come down to 12 per cent and that in BPCL to 26 per cent.Disinvestment Minister Arun Shourie has maintained that the privatisation of the two oil PSUs, which were nationalised through an act of Parliament in 1970s, did not need Parliament approval. Shourie’s argument was, however, countered by Opposition and trade unions. It was argued the board of companies were empowered to take decisions on crucial matters like winding up the companies without parliamentary approval. Parliament specified cases where the government ought to come back to it before taking a decision.
