The Hindu Business Line : Ruia Cotex plea dismissed in Jessop stake sale

A DIVISION Bench of the Calcutta High Court comprising of Mr Justice D.K. Seth and Mr Justice Maharaj Sinha on Wednesday dismissed the appeal of Ruia Cotex Ltd (RCL), the intending purchaser of the Central Government's stake in Jessop & Co Ltd (JCL), challenging the delay in pronouncement of judgment by Mr Justice K.J. Sengupta, who heard the matter. He kept the judgment reserved, extending the interim order till pronouncement of judgement.

Earlier, RCL had filed a SLP in the Supreme Court, where the apex court requested the Trial Court of Calcutta High Court to dispose of the writ petition upon hearing the parties and to conclude the same on the next date fixed.

The hearing is concluded, but judgment has not been pronounced.

Mr Debabrata Roy Chowdhury with Mr Jayanta Dutta, counsel for Bharat Bhari Udyog Nigam Ltd, have submitted that the matter shall be mentioned before the trial judge subject to liberty granted by the Appeal Court.

Mr S. Pal, counsel for Jessop & Co Staff Association, has submitted that this appeal is not maintainable and that the same with application be dismissed with cost.

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