ARUN KUMAR AGRAWAL vs UNION OF INDIA .

The Supreme Court addressed a Public Interest Litigation challenging the Government of India's approval for the acquisition of a majority stake in Cairn India Limited under the Right of First Refusal (RoFR). The Court held that ONGC, as a government undertaking, has a legal right to exercise its pre-emption rights regarding the sale of shares, emphasizing the need for transparency and adherence to statutory obligations. The Court directed the CBI to investigate the circumstances under which ONGC did not exercise its rights, thereby reinforcing the principles of accountability in public sector undertakings.