As per case facts, the petitioners challenged the government's decision to sell majority shares in Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) to private parties without ... parliamentary approval. They argued this was contrary to the ESSO (Acquisition of Undertaking in India) Act, 1974, the Burma Shell (Acquisition of Undertaking in India) Act, 1976, and Caltex (Acquisition of Shares of Caltex Oil Refining India Limited and all the Undertakings in India for Caltex India Limited) Act, 1977. They contended these enactments aimed to vest oil distribution in the State for common good, and disinvesting without repealing or amending the laws would violate this object. The respondents argued disinvestment policy was upheld by the Supreme Court in other cases, these companies were registered under the Companies Act, 1956, and sales didn't require parliamentary approval. The question arose whether there was any express or implied limitation on the Government to privatize HPCL and BPCL, specifically whether the executive power to disinvest these companies without repealing or amending the acquisition statutes was permissible. Finally, the Supreme Court ruled that the method adopted by the Government to disinvest HPCL and BPCL, leading them to cease being Government companies, was not permissible under the language of the Act without appropriately amending the statutes concerned. The petitions were allowed, restraining the Central Government from proceeding with such disinvestment without suitable amendments to the statutes.