According to sources, SBI caps had valued the government stake in the company based on 2004 data when Sterlite exercised its right to buy the residual equity.
Between 2004 and now, the aluminium industry's fortunes have witnessed a sea-change. So, the attorney general has advised the government that it would not be in the public interest to sell Balco's shares at prices arrived at on the basis of 2004 data.
