Explanation:

The Supreme Court gave the go-ahead to the Centre to disinvest its 29.54 per cent residual shares in Hindustan Zinc Ltd (HZL).

• The top court also directed a CBI probe into alleged irregularities in the process of disinvestment of 26 per cent of government shares in the company in 2002.
• Hindustan Zinc Limited (HZL) is an Indian integrated mining and resources producer of zinc, lead, silver and cadmium.
• It is a subsidiary of Vedanta Limited. Earlier it was a Central Public Sector Undertaking, sold by Government of India to Vedanta Limited when Atal Bihari Vajpayee and Bharatiya Janta Party Government was in power in the year 2003.

What is the history of HZL?

• The Metal Corporation of India Limited was incorporated in 1944 as a public limited company under the Companies Act 1913.
• Hindustan Zinc Limited was incorporated from the erstwhile Metal Corporation of India on 10 January 1966 as a Public Sector Undertaking.
• On August 2, 1976, the President promulgated the Metal Corporation (Nationalisation and Miscellaneous Provisions) Ordinance. This ordinance was replaced by The Metal Corporation (Nationalisation and Miscellaneous Provisions) Act, 1976.

Hence both statements are correct.