the balance 5.54% is with the public and institutions.
SOVL was entitled to exercise the second call option for the balance government's stake upon the expiry of five years from the closing date, 10/04/2007. It exercised the second call option in July 2009. However, it was rejected by the mines ministry in the light of the opinion of AG given in 2006 stating that laws do not permit it.
Upon the rejection of the second call option, dispute resolution mechanism was invoked and the matter is currently before an arbitral tribunal, the next date of which is on November 13.