The unions at Jessop & Company Ltd managed to gain time in their battle against the government's divestment decision when the Calcutta High Court today, in an interim order, restrained the government of India from implementing any decision on disinvestment till May 20.Justice Kalyanjyoti Sengupta hearing the case on disinvestment of Jessop between Jessop Staff Association and Board of Industrial Financial and Reconstruction (BIFR) extended the restraint order given in April this year.Arguing for Jessop Staff Association, Samaraditya Pal submitted that the policy of the government is to keep majority holding with it in case the industry to be disinvested is related to a strategic sector.Pal submitted that Jessop is a strategic company as it manufactured railway coaches, components and other materials related to the railway industry.He also argued that the rights of the employees protected under Articles 14 and 16 of the Constitution would be harmed if government undertaking Jessop is handed over to a private party.The next date of hearing of the case is fixed on May 6.The government-owned Bharat Bhari Udyog Ltd holds 97 per cent in the company, of which it plans to sell 72 per cent.
