BALCO EMPLOYEES UNION (REGD.) vs UNION OF INDIA & ORS.

The Supreme Court upheld the validity of the Union of India's decision to disinvest and transfer 51% shares of Bharat Aluminium Company Limited (BALCO), emphasizing that the disinvestment process was in accordance with the policy established by the Government. The Court noted that the disinvestment was part of a broader strategy initiated in 1990-91 to enhance efficiency in public sector undertakings. The judgment confirmed that the procedures followed were consistent with the provisions of the Companies Act, 1956 and the Land Acquisition Act, 1894, thereby rejecting the petitions challenging the disinvestment.