Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

SC refuses to grant interim relief in challenge to LIC IPO

IANS
Updated: May 12th, 2022, 12:45 IST
in Home News, National
0
All women entitled to safe and legal abortion: Supreme Court
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: The Supreme Court Thursday declined to grant interim relief to petitioners challenging the amendments to LIC Act by Finance Act of 2021, which facilitated the LIC IPO.

A bench headed by Justice D.Y. Chandrachud said: “We are of the view that no case of interim relief has been made out. No interim relief granted.”

Also Read

Kargil-Vijay-Diwas

Kargil Vijay Diwas: Nation pays tribute to Kargil bravehearts

4 hours ago

Fan murder case: Actor Darshan returns to Bengaluru, CISF protection to actor stirs row

4 hours ago

The top court declined to interfere with the LIC IPO process at this juncture. A bunch of policy holders had moved the apex court alleging violation of the LIC Act.

“In matters of IPO, the court will be reluctant in granting interim relief. It is about investments”, said the bench also comprising Justices Surya Kant and P.S. Narasimha.

The counsel for a petitioner said the amendments to the LIC Act, seriously affects the interest of participating policyholders and the amendments should not have been carried out through Money Bill. A counsel argued ‘what is the legal character of LIC’ and added that it is a mutual benefit society converted into a joint stock company.

The bench noted that the petitioners’ counsel argued that the process which led to the enactment of the LIC Act was on the basis that it was a Money Bill.

The bench said that the issue raised is regarding the enactment of law as a Money Bill, and the same is already pending before the top court, therefore the case will be tagged along with the pending matter. The top court issued notice in the matter.

The counsel representing the Centre contended that the Money Bill was passed 15 months ago, and the petitioners can’t come to court so late.

One of the petitioners had initially moved the Madras High Court challenging provisions of the Finance Act, 2021 and the Life Insurance Corporation (LIC) Act. The plea argued that the Acts were introduced by way of a Money Bill under Article 110 of the Constitution, even though the amendment did not fall in the category of a Money Bill.

Tags: IPOLICSCSupreme Court
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

slide 2 to 4 of 30
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Narendra Kumar

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019

Archives

Select Month

    Editorial

    Honeytrap Alarm

    July 26, 2025

    If your password is still “1234” and you think a luxury hotel room is a safe space, you’re probably not...

    Read more

    Exit Mystery

    Jagdeep Dhankhar
    July 23, 2025

    A major controversy has erupted after the sudden resignation of Vice President Jagdeep Dhankhar, tendered hours after he had attended...

    Read more

    Voting At 16

    Ballot Box
    July 22, 2025

    It has long been held that when one is young, one tends to subscribe to pro-poor and people-oriented progressive politics,...

    Read more

    Water Bomb

    OPiate
    July 21, 2025

    On 19 July, China began constructing a $167.8 billion dam on the Brahmaputra River in Tibet, close to the Indian...

    Read more
    • Home
    • State
    • Metro
    • National
    • International
    • Business
    • Editorial
    • Opinion
    • Sports
    • About Us
    • Advertise
    • Contact Us
    • Jobs
    Developed By Ratna Technology

    © 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST

      • News in Odia
      • Orissa POST Epaper
      • Video
      • Home
      • Trending
      • Metro
      • State
      • Odisha Special
      • National
      • International
      • Sports
      • Business
      • Editorial
      • Entertainment
      • Horoscope
      • Careers
      • Feature
      • Today’s Pic
      • Opinion
      • Sci-Tech
      • About Us
      • Contact Us
      • Jobs

      © 2024 All rights Reserved by OrissaPOST