The court said that the recommendation of various officials of the CBI for converting the preliminary inquiry of disinvestment of HZL in 2002.
Recently, the Centre successfully disinvested a 100 per cent stake to Tata Sons of Air India, but pending dues by Air India need to be noted to the new owner.
Earlier this month, Talace Pvt Ltd, part of the Tata group, emerged as the winning bidder for Air India with a bid worth Rs 18,000 crore.
Bansal in an order said the airline's disinvestment process is in its final stages and letter to intent has been already issued to the Tata group.
Finance Minister Nirmala Sitharaman had announced a Rs 6-lakh crore National Monetisation Pipeline to unlock value in infrastructure assets across sectors ranging from power to road and railways.
The government is seeking to sell 100 per cent of its stake in Air India, including its 100 per cent shareholding in AI Express Ltd and 50 per cent in Air India SATS Airport Services Private Ltd.
Up to 74 percent foreign investment is permitted under the automatic route in the insurance sector, according to the current FDI policy, which doesn't apply to the Life Insurance Corporation of India.
As per the latest notification issued on Friday, the last date for submission of bids has been extended from August 17 to 26.
This comes at a time when employees of the steel plant were on a two-day dharna in Delhi
JSPL and its transaction advisors have successfully negotiated a revised and improved binding offer from Worldone, according to a statement issued.
The government, in the previous week, had invited bids to appoint merchant bankers and legal advisors for the IPO and subsequent listing of the country's largest insurer.
The extent of respective shareholding to be divested by the central government and LIC shall be decided at the time of structuring of transaction in consultation with the RBI.
This will be done by clubbing the shareholding of state-run banks, financial institutions like LIC and other PSUs, she said.
The ambitious strategic stake sale of loss-making Air India as well as its two subsidiaries seem to be hitting air pockets with the two potential bidders deciding to keep away.
IndiGo, a market leader in the Indian skies with close to 40 per cent share, was one of the first players to show interest in the ailing airline.