PIB News
Legislative Developments Clarified on Government's Shareholding in IDBI
The Ministry of Finance clarified that reports regarding legislative developments on the government's shareholding in IDBI are misleading. During the discussions on the Union Budget in 2003, an amendment to restrict the dilution of the government's stake was proposed but ultimately rejected and not included in the final legislation. The Delhi High Court addressed this issue in a 2018 ruling, stating that earlier statements made in parliamentary debates do not prevent the government from reducing its stake in IDBI Ltd. The court emphasized that the enacted legislation did not include the proposed amendment, indicating Parliament's awareness of its implications.
The Radius summarizes this story. Read the original report from PIB News.
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