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HPCL relents, Centre recognises ONGC as company promoter

Updated : June 24, 2019 08:09 AM IST

Government headhunter Public Enterprises Selection Board (PESB) on June 17 called ONGC chairman and managing director Shashi Shanker to assist in selecting the new Director (Finance) of HPCL.
Oil and Natural Gas Corp (ONGC) in January last year bought the government's entire 51.11 percent stake in HPCL for Rs 36,915 crore.
ONGC chairman and managing director was invited to sit on the interview panel to select HPCL Director (Finance). HPCL chairman and managing director M K Surana, who till now used to sit on the interview panels to select directors of the company, was not called.
HPCL relents, Centre recognises ONGC as company promoter

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