The Bombay High Court on Thursday dismissed petitions primarily challenging the decision taken by the union of India of in-principle disinvestment of its shareholding in Bharat Petroleum Corporation Ltd observing that there is no fundamental or constitutional right for insisting on continuation of Union's strategic stake in BPCL. In 2002, the Union Government, by exercise of its executive powers, sought …
Privatisation of BPCL will not just shake up the fuel retailing sector long dominated by state-owned firms but also help meet at least a third of the government’s Rs 1.05 lakh crore disinvestment target. Major oil companies in the world have reportedly lined up to bid for the government’s stake in the state-run Bharat Petroleum Corporation Ltd, said media reports. …
)