https://www.taxtmi.com/caselaws?id=106427 A public interest writ challenge to the disinvestment of VSNL, based on newspaper reports and vague allegations, was found unsupported by verified facts. The Delhi HC noted that judicial review of economic and disinvestment policy is limited and requires concrete proof of illegality, mala fides, or constitutional or statutory violation. The provisions invoked, including Articles 298 and 299 of the Constitution, Section 70 of the Contract Act, and Section 4 of the Telegraph Act, did not provide a basis to invalidate the transaction or the transfer of shares. The court also noted that the company's telegraph licence and corporate identity were not destroyed by the change in shareholding, and the petition was dismissed as not maintainable on the materials presented. en-us Tue, 06 Aug 2002 00:00:00 +0530 Wed, 14 Mar 2012 11:32:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106427 A public interest writ challenge to the disinvestment of VSNL, based on newspaper reports and vague allegations, was found unsupported by verified facts. The Delhi HC noted that judicial review of economic and disinvestment policy is limited and requires concrete proof of illegality, mala fides, or constitutional or statutory violation. The provisions invoked, including Articles 298 and 299 of the Constitution, Section 70 of the Contract Act, and Section 4 of the Telegraph Act, did not provide a basis to invalidate the transaction or the transfer of shares. The court also noted that the company's telegraph licence and corporate identity were not destroyed by the change in shareholding, and the petition was dismissed as not maintainable on the materials presented. Case-Laws Companies Law Tue, 06 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106427