BHARAT BHARI UDYOG NIGAM LTD Vs. JESSOP AND CO LTD
HIGH COURT OF CALCUTTA
BHARAT BHARI UDYOG NIGAM LTD.,JESSOP AND CO. LTD. STAFF ASSOCIATION
BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION,JESSOP AND CO. LTD. STAFF ASSOCIATION
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Ashok Kumar Mathur, C.J. -
(1.)All the above appeals arise against the order passed by a learned Single Judge dated 25 March, 2003. Therefore, they are disposed of by a common order. By the said order, the learned Single Judge has set aside the disinvestment of Jessop & Co. Ltd.
(2.)The appeal being FMA No. 433 of 2003 has been filed by Bharat Bhari Udyog Nigam Ltd.; FMA No. 434 of 2003 by Ruia Cotex Ltd.; FMA No. 435 of 2003 by Jessop & Co. Ltd. Staff Association and FMA No. 436 of 2003 Union of India.
(3.)The basic question involved in all these four appeals is whether disinvestment of 72% equity shares of Government of India in Jessop & Co. Ltd., in favour of Ruia Cotex Limited is justified or not.
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