https://www.taxtmi.com/caselaws?id=278769 Dilution of the Government's stake in IDBI Ltd. did not alter employees' service conditions or breach the statutory protection under the repealing legislation, because the protection concerned terms of service and not the company's ownership status. Parliamentary debate could not override the enacted statute, and no enforceable assurance or promissory estoppel barred reduction of the Government's shareholding. LIC's decision to acquire a controlling stake, and IRDAI's relaxation of investment norms, were treated as commercial and regulatory decisions; absent arbitrariness, perversity, or defect in the decision-making process, judicial interference was unwarranted. en-us Fri, 21 Dec 2018 00:00:00 +0530 Wed, 20 Feb 2019 06:15:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278769 Dilution of the Government's stake in IDBI Ltd. did not alter employees' service conditions or breach the statutory protection under the repealing legislation, because the protection concerned terms of service and not the company's ownership status. Parliamentary debate could not override the enacted statute, and no enforceable assurance or promissory estoppel barred reduction of the Government's shareholding. LIC's decision to acquire a controlling stake, and IRDAI's relaxation of investment norms, were treated as commercial and regulatory decisions; absent arbitrariness, perversity, or defect in the decision-making process, judicial interference was unwarranted. Case-Laws Indian Laws Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278769