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Government and oil PSUs

The Senior Manager (Finance), Hindustan Petroleum Corporation Ltd., Mumbai, writes:

Apropos of the report carried on December 2, 2007 [in the Kerala edition of The Hindu], quoting the Finance Minister of Kerala as saying that the “Government registered a major victory when oil PSUs (public sector units) agreed to settle Rs. 650 crore out of court,” we are not aware of any dispute involving Rs. 650 crore between oil PSUs and the State of Kerala pending before the Kerala High Court.

However, there is a dispute involving Rs. 396 crore pending before the Kerala High Court relating to the determination of the turnover of oil companies for all the PSU oil marketing companies. Writ appeals filed by the State are sub judice.

Since the Honourable High Court of Kerala is already seized of the matter, we refrain from making any further comments.

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