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Despite Govt order, ONGC not recognised as promoter by HPCL
April 22, 2019

Despite Govt order, ONGC not recognised as promoter by HPCL

HPCL’s stance on the promoter classification has remained resolute one year after its Rs. 37000 crore-acquisition by ONGC. In a recent regulatory filing, HPCL continued recognizing the Government as its promoter and ONGC as a public shareholder. HPCL’s shareholding pattern hasn’t changed despite a government directive asking it to acknowledge ONGC as the promoter. In response to an inquiry, HPCL has said that it is awaiting certain clarifications from authorities.

   Read More About : HPCL India Mergers and Acquisitions ONGC
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