Government starts filing caveats for HPCL, BPCL divestment
By Our Economy Bureau | 29 Jan 2003
New
Delhi:
The central government has started the process of filing
caveats in the Supreme Court and three high courts to ward
off all legal challenges from creating hurdles in the process
of privatising Hindustan Petroleum Corporation (HPCL) and
Bharat Petroleum Corporation (BPCL).
Caveats are being filed in the apex court and the high courts of Bombay, Madras and Calcutta, blocking a possible avenue through which delays can be caused for the proposed sale of equity in HPCL and BPCL, say disinvestment ministry officials. “We are fully geared to meet any unforeseen trouble spots, and caveats are a step in this direction.”
The caveats filed by the government will preempt all possibility of the decision on HPCL and BPCL being challenged in courts of law through public interest litigations and taking an ex parte order. “The caveats will ensure that the privatisation of HPCL and BPCL is completed at the earliest without any legal hiccups,” the officials add.