The Supreme Court on Friday gave the go-ahead to disinvestment in 11 sugar mills owned by the Uttar Pradesh government. A bench of the apex court said in its order that that the Uttar Pradesh government can go ahead with the bidding process as per schedule on 3 of next month but the outcome would be subject to final adjudication. It said any action taken by the state government shall be subject to the final outcome of the petition.<br/><br/>The Court's direction came in response to a petition challenging the bidding of 11 operational sugar units in the state.<br/><br/>The UP government, in 2007, embarked on a drive to privatise sugar mills, but with not many takers for its loss-making units decided to sell the 11 operational units first.<br/><br/>However, the decision to privatise operational units has since run into a legal tangle, stalling the disinvestment process.
News On AIR | May 28, 2010 3:41 PM
SC okays UP sugar mills disinvestment