HC dismisses petition challenging provisions allowing IPO by LIC

L. Ponnammal Vs Union of India (Madras High Court) By this writ petition a challenge is made to Sections 128 to 146 of the Finance Act, 2021 , with an alternative prayer to declare Section 5(9) of the Life Insurance Corporation Act, 1956 and Sections 128 to 130 and Sections 132 to 146 of the Act of 2021 as ultra vires Article 110 of the Constitution of India. An alternative prayer is also made to declare Section 140 of the Act of 2021 as ultra vires Article 110 of the Constitution of India. Learned counsel submits that the petitioner is a policyholder of the Life Insurance Corporation (LIC) an...