CBI registers preliminary enquiry in Hind Zinc stake sale

Hindustan Zinc Limited (HZL) was incorporated after the erstwhile Metal Corporation of India was nationalised through the Metal Corporation (Nationalisation and Miscellaneous Provisions) Act, 1976 via the Parliament.

November 28, 2013 / 09:48 IST

26 Aug, 2025 12:21

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The Central Bureau of Investigation (CBI) has registered a preliminary enquiry into the privitisation of Hindustan Zinc Limited (HZL) without the Parliament’s approval. This is yet another roadblock in the long pending residual stake sale of the government’s share in HZL.

Remember, HZL was incorporated after the erstwhile Metal Corporation of India was nationalised through the Metal Corporation (Nationalisation and Miscellaneous Provisions) Act, 1976 via Parliament.

During 2002-2003, the government had divested about 64.92 percent stake in HZL to the Vedanta group.

CNBC-TV18 had earlier reported how the Law & Mines Ministries are of the same opinion that the amendment of Metal Corporation Act is needed for the government to sell its residual stake sale. The Finance Ministry, however, differs on the same. With CBI stepping up its investigation, it may derail government's plan to meet Rs 40,000 crore divestment target, set for FY14.

first published: Nov 27, 2013 10:31 pm

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