Financial Daily from THE HINDU group of publications
Tuesday, Apr 15, 2003
Financial Daily from THE HINDU group of publications Tuesday, Apr 15, 2003 |
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Petroleum Industry & Economy - Disinvestment SC issues notice to Govt on sale of HPCL, BPCL Our Bureau
NEW DELHI, April 14 THE Supreme Court on Monday issued a notice to the Centre on a public interest litigation (PIL) challenging the legality of the Government's decision to privatise public sector oil firms Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) without taking Parliamentary approval. The notice was issued by a Bench comprising Mr Justice S. Rajendra Babu and Mr Justice G.P. Mathur on a petition filed by the Centre for Public Interest Litigation. The Government had on January 26 decided to sell its 34.01 per cent stake in HPCL to a strategic buyer and divest 38.2 per cent in BPCL through a market offering.
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