N.PARTHASARATHY ETC. vs CONTROLLER OF CAPITAL ISSUES AND ANOTHER ETC.

The Supreme Court addressed the sale of shares of M/s Larsen & Toubro Ltd. held by public financial institutions, emphasizing the need for due consideration to public interest under Articles 14 and 39 of the Constitution. The Court held that the Controller of Capital Issues must ensure that the grant of consent for public issues does not create monopolies or violate public policy. The judgment clarified that any change in consent orders must adhere to the resolutions passed in general meetings, thereby reinforcing the principles of corporate governance and public interest.