 "Calcutta High Court")
The Calcutta High Court dismissed a petition alleging the sale of State’s Metro Dairy Limited (MDL) shares to Keventer Agro Ltd (KAL) in 2017 was non-transparent or opaque.
A division bench of the court said the state has not adopted a non-transparent method to sell 47 per cent of its stake to KAL and there is no need for a CBI probe into the sale.
The share holding of MDL since inception was as follows:
a. State of West Bengal: 47%
b. National Dairy Development Board (NDDB): 10%
c. Keventer Agro Limited (KAL): 43%
Later NDDB sold its share to KAL after
