New Delhi, Nov 25: Disinvestment Ministry would concentrate on "legal option" to resolve the disinvestment impasse arising out of the supreme court verdict on HPCL and BPCL, but would continue with residual stake sale plans in companies like CMC and VSNL. "We are concentrating on legal option, at this point," Disinvestment Minister Arun Shourie told reporters on the sidelines of a WEF-CII seminar here today.

He said the sale of residual stake in companies like CMC, VSNL and IBP will "go on".

Asked if government would proceed with disinvestment of companies other than oil PSUs, Shourie said, "Disinvestment in all companies has been stopped for the time being, including Shipping Corporation of India (SCI) and Hindustan Copper Ltd as we are facing the same difficulties." "Let things be clarified first," he pointed out.

On whether the recent observation of the apex court - of taking a fresh look at its judgement on HPCL and BPCL which had stalled privatisation of the two oil PSUs - would give an impetus to disinvestment of oil companies Shourie said, "Anticipating SC judgement is contempt of court, so I will not comment."

Bureau Report