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This is an archive article published on August 5, 2003

SC refuses to stay Jessop’s disinvestment

The Supreme Court on Monday issued notices to the Union Government and disinvestment ministry on a petition challenging a decision to disinv...

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The Supreme Court on Monday issued notices to the Union Government and disinvestment ministry on a petition challenging a decision to disinvest its stake in EMU Coach Manufacturing Unit, Jessop & Co Ltd, in West Bengal, but refused to stay the ongoing process for its privatisation.

Petitioner Jessop staff submitted that railway transport had been categorised by the government itself as a strategic sector and contended that manufacturing of coaches also fell within that category. However, the bench said manufacture of coaches could not be in the category of railway transport which would only include carrying of goods and passengers.

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