For over five months now, ONGC has had no representative on the board of Hindustan Petroleum Corporation Ltd — a company in which it owns a 51.11 per cent stake since January 2018.
HPCL for over one-and-a-half years — between January 2018 and August 2019 — did not recognise ONGC as its promoter. It relented only after a rap from market regulator Sebi.
Officials said since then ONGC appointed one of its directors as the nominee director. Its last nominee director was Alka Mittal, director (HR) who was appointed to the HPCL board in April 2021.
