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Chhattisgarh to submit proposal to SC for Balco pie

The Chhattisgarh government will submit a written proposal to the Supreme Court for buying 51 per cent stake in Balco, Chief Minister Ajit Jogi said today while rejecting the Centre's claim that the apex court had not taken notice of the reference made to this effect by the state's counsel on Monday.

The Chhattisgarh government's offer to purchase the stake in Balco, witnessing serious labour trouble ever since the Centre sold its 51 per cent stake in the public sector unit to Sterlite Industries for Rs 5.515 billion, was "serious and reasonable" Jogi said, and added that the apex court had agreed to hear it when the case came up again before the bench.

"We will submit our written submission," Jogi told newspersons.

Commenting on Chhattisgarh state's counsel Kapil Sibal's assertion in the court that Chhattisgarh was willing to buy 51 per cent Balco stake for Rs 5.52 billion, Law Minister Arun Jaitley had told reporters on Monday night that court had not taken cognizance of the offer made in the passing.

Jogi, however, refused to make any comment on the statement of Central Vigilance Commissioner N Vittal that he had referred the Balco deal to CBI and written to the chief minister for cooperation in investigation saying, "I will comment after receiving his letter in this regard."

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