{"id":270087,"date":"2019-04-22T05:09:25","date_gmt":"2019-04-22T05:09:25","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=270087"},"modified":"2019-04-22T05:09:25","modified_gmt":"2019-04-22T05:09:25","slug":"hpcl-doesnt-see-ongc-as-promoter-to-face-real-test-in-selecting-directors","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/hpcl-doesnt-see-ongc-as-promoter-to-face-real-test-in-selecting-directors\/","title":{"rendered":"HPCL doesn&#8217;t see ONGC as promoter, to face real test in selecting directors"},"content":{"rendered":"<p>Hindustan Petroleum Corp Ltd (HPCL) has for the fifth consecutive quarter listed its majority shareholder ONGC as a public shareholder and not its promoter, but it will face a real test when the vacant posts of directors on the company board are filled. <\/p>\n<p>Oil and Natural Gas Corp (ONGC) in January last year bought the government&#8217;s entire 51.11 per cent stake in HPCL for Rs 36,915 crore. HPCL thereafter became its subsidiary but HPCL management has continuously refused to recognise ONGC as its promoter. <\/p>\n<p>In a regulatory filing on shareholding pattern at the end of March quarter, HPCL on April 18 listed &#8220;President of India&#8221; as its promoter with &#8220;zero&#8221; per cent shareholding. ONGC was listed as &#8220;public shareholder&#8221;, owning &#8220;77.88 crores&#8221; shares or &#8220;51.11 per cent&#8221; shareholding of the company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hindustan Petroleum Corp Ltd (HPCL) has for the fifth consecutive quarter listed its majority shareholder ONGC as a public shareholder and not its promoter, but it will face a real test when the vacant posts of directors on the company board are filled. Oil and Natural Gas Corp (ONGC) in January last year bought the government&#8217;s entire 51.11 per cent stake in HPCL for Rs 36,915 crore. HPCL thereafter became its subsidiary but HPCL management has continuously refused to recognise ONGC as its promoter. In a regulatory filing on shareholding pattern at the end of March quarter, HPCL on April [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-270087","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/270087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=270087"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/270087\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=270087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=270087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=270087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}