New Delhi, Feb 2: The government has described as "absolutely baseless" reports that the Indian Oil Corporation board had opposed the PSU's plans to take over the Indian Petrochemicals'(IPCL) Baroda unit."The report is totally wrong and absolutely baseless," Disinvestment secretary Pradip Baijal said in a statement, adding the issue did not figure at all at the meeting of the IOC Board on Wednesday.
Some reports had said IOC board's planning committee had opposed the plans to take over IPCL's Baroda Unit as well as the proposal to buy into Haldia Petrochemicals. Baijal also said the huge increase in PSU stock prices on Friday was attributable to yesterday's Cabinet decision to dilute government equity to 26 per cent in Videsh Sanchar Nigam and Computer Maintenance Coporation.
(PTI)
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