The Supreme Court on Thursday refused to grant relief to the petitioners on the petition of policyholders to stay the allotment of shares through LIC IPO. In this petition, there was a demand for a stay on the share allotment process.
However, the court has issued notice to the Center on petitions challenging the constitutional validity of the provisions of the Finance Act, 2021 and sections of the LIC Act.
According to the report, the Supreme Court has refused to interfere in the process of LIC’s IPO. Let us inform that in the petition filed, it was said that the changes in the LIC Act were made through the financial bill.
The Supreme Court said that no interim order will be given in this matter. The issue of passing changes in the Aadhaar Act like a finance bill in Parliament is already pending. It will also be heard together.
The post LIC IPO: Supreme Court refuses to stay LIC IPO appeared first on Spotlight 7.
source https://spotlight7.com/business/lic-ipo-supreme-court-refuses-to-stay-lic-ipo/
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