India, Oct. 17 -- The Government of India has issued a release:
Certain sections of press and media have brought out reports, which inter alia have comments/ views regarding the legislative developments in 2003 concerning the Government's shareholding in IDBI. It is reiterted that during the disucssions of Union Budget, 2003 and the parliamentary debate on the IDBI (Repeal) Act, 2003, an amendment seeking to restrict the dilution of the Government's stake was moved but was ultimately rejected and did not form part of the enacted legislation.
The matter was subsequently examined by the Delhi High Court in All India IDBI Officers' Association v. Union of India & Others, decided on 17 December 2018. The Court, while dismissing the writ petit...