Calcutta High Court today scrapped the proposed sale of excess land of the state-run Bengal Chemicals and Pharmaceuticals Limited, a Union government undertaking.
Justice Debangshu Basak set aside the Central government's proposal for sale of the land, slated for auction last year on a petition filed by the company's workers' union opposing the proposed sale.
Petitioner's counsel Bikash Bhattacharya pleaded before the court that the proposed sale was an attempt to slowly sell off the company.
Bhattacharya said the company, which has made profit after several years, should be strengthened and diversified instead of the sale of its land.
Appearing for the Union government, Additional Solicitor General Kaushik Chanda made the Central govenment stand before the court.
Earlier, admitting the plea, Justice Basak asked the Central Government to file an affidavit to spell out its stand on the petitioner's claim.
Bengal Chemicals and Pharmaceuticals Limited is the first Indian pharma company set up in 1901 by scientist and visionary Acharya Prafulla Chandra Roy, the company website said.
The company, which had been going through a prolonged bad phase, was nationalised in 1980.
The Kolkata-headquartered company recorded a profit of Rs 4 crore in financial year 2016-2017 after suffering losses for several years.
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-- (UNI) -- C-1-1-DL0213-1248994.Xml