I In spite of our expectation that 'stage is set for final hearing' i do not think that a final
hearing on the merits of our stand will take place.
LIC having now become a field for govt action to manipulate it's capital structure legally ,the finality in our case can at best be admission of SLPs for conversion as civil Appeals.
As I am not a pessimist I will be only happy if something happens.Let us hope for the best
-GN Sridharan
GNS also writes:
The Finance Minister has announced through Budget speech that the govt will be giving up 'part' of it's capital holding through listing process.It therefore appears necessary that LIC Act will have to be amended for effecting change in the capital structure.This exercise will naturally involve time as amendment to the Act will require parliamentary approval.A similar situation arose in the case of ONGC sometime back.we have therefore to watch how it goes.With such developments and the bank settlement still hanging it can only be anybody's guess on what happens on matters relating to pensioners pending in courts.- GN Sridharan
hearing on the merits of our stand will take place.
LIC having now become a field for govt action to manipulate it's capital structure legally ,the finality in our case can at best be admission of SLPs for conversion as civil Appeals.
As I am not a pessimist I will be only happy if something happens.Let us hope for the best
-GN Sridharan
GNS also writes:
The Finance Minister has announced through Budget speech that the govt will be giving up 'part' of it's capital holding through listing process.It therefore appears necessary that LIC Act will have to be amended for effecting change in the capital structure.This exercise will naturally involve time as amendment to the Act will require parliamentary approval.A similar situation arose in the case of ONGC sometime back.we have therefore to watch how it goes.With such developments and the bank settlement still hanging it can only be anybody's guess on what happens on matters relating to pensioners pending in courts.- GN Sridharan
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