Today, Supreme Court refused to grant interim relief to a matter related to LIC IPO further they have also issued notice to the Centre on petitions challenging the constitutional validity of some sections of Finance Act, 2021 and LIC Act 1956.
The court decided to examine the validity of the amendment to the LIC Act by way of the Finance Act, 2021.
The apex court, however, issued a notice in the pleas challenging the Centre’s decision to trade five percent of its shareholding in LIC through an IPO.
The pleas were tagged with those of the Rojer Mathew matter which has been referred to a larger bench.
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(MARCH – APRIL 2022)