Financial Daily from THE HINDU group of publications
Wednesday, Oct 02, 2002
Financial Daily from THE HINDU group of publications Wednesday, Oct 02, 2002 |
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Courts/Legal Issues Industry & Economy - Disinvestment HC directive to RuiaCotex on Jessop offer Our Legal Correspondent
KOLKATA, Oct. 1 MR Justice Kalyan Jyoti Sengupta of Calcutta High Court has directed the counsel of Ruia Cotex Ltd (RCL) to produce documents in support of the statement that the offer of RCL is valid till October 13. The staff association of Jessop & Co Ltd (JCL) has contemplated to file a fresh petition, challenging the decision of Board for Industrial & Financial Reconstruction (BIFR) which sanctioned the scheme of RCL for revival of JCL. The argument about the disinvestment of Central Government stake in JCL is continuing and the staff union has filed a writ petition, challenging the decision of Central Government and obtained an interim order to the extent that no decision of BIFR shall be given effect to without the leave of the Court.
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