Finance Ministry Clarifies on Legislative Developments Concerning Govt's IDBI Bank Stake
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8 Articles
The Economic Times
Times of IndiaFinance Ministry clarifies on legislative developments concerning govt's IDBI Bank stake
The Finance Ministry clarified the legislative developments regarding IDBI Bank's government stake in 2003. An amendment to restrict the dilution of the government's ownership was proposed but ultimately rejected during parliamentary discussions. The ministry highlighted that this issue was previously examined by the Delhi High Court. This examination took place in the case of All India IDBI Officers' Association v. Union of India & Others.
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The ministry has said the legislative history of the IDBI (Repeal) Act, 2003, a Delhi High Court judgment and successive Union Budget speeches collectively demonstrated the evolution of the government's policy towards strategic disinvestment of the bank.
Questions raised on IDBI Bank disinvestment: Finance Ministry cites High Court decision, says no law prohibits finance-ministry-clarifies-idbi-bank-government-stake-strategic-disinvestment
The Finance Ministry has clarified that during the discussion on the Union Budget 2003 and the parliamentary debate on the IDBI (Repeal) Act, 2003, an amendment was introduced to prevent the dilution of the Government's stake.
Social News XYZ
Govt issues clarification on legislative developments concerning its shareholding in IDBI Bank
New Delhi, Oct 17 (SocialNews.XYZ) The government on Saturday issued a clarification on the legislative developments in 2003 concerning the government’s shareholding in IDBI Bank, saying the legislative history of the IDBI (Repeal) Act, 2003,... - Social News XYZ
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