Mumbai, Sept 16: Hindustan Petroleum Corporation Ltd is "waiting for a word" from the Disinvestment Ministry to decide on the future course following the Supreme Court order halting the disinvestment process of the oil majors. "We are awaiting the court order as well as a word from the Disinvestment Ministry on due diligence which had been going on mainly in Delhi," a top HPCL official said here today.
"No comments until we see the judgement, but the due diligence process has been halted," an HSBC official, the merchant banker associated with the disinvestment process, said.
The Supreme Court halted the disinvestment process for HPCL and Bharat Petroleum Corporation Ltd (BPCL) and asked the Centre to get approval from Parliament before going ahead with the sell off. Bureau Report