Chennai: The Madras High Court has rejected a PIL plea challenging the amendments made in the Finance Act and LIC Act, which enabled the central government to disinvest its stakes in the Life Insurance Corporation of India.
The first bench of Chief Justice M N Bhandari and Justice D Bharatha Chakravarthy was dismissing the petition from L Ponnammal, a policy-holder with the insurance behemoth who contended that the subject matter would not fall within the definition of Money Bill. The amendments were introduced by the Money Bill under Article 110 of the Constitution, though the same did not fall within the said category, she added.
