'LIC IPO To Bring About Rs 70K Crores For Nation's Development' : Madras High Court Dismisses Policyholder's Challenge Against 5% Disinvestment

The Madras High Court on Monday dismissed a writ petition filed by one L. Ponnammal challenging the amendments brought in by the Finance Act 2021 and the subsequent amendments made in the LIC Act 1956 which provided for the disinvestment of the Life Insurance Corporation.The Court rejected the argument that the amendments could not have been passed as a Money Bill and held that the decison...