The corporation has written to the heavy industry secretary to raise the ceiling to at least 60 per cent of net worth. IOC has argued that as per the current department of public enterprises (DPE) guidelines, the ceiling on investment by a Navratna company in all subsidiaries and joint ventures put together is limited to 15 per cent of its networth.
The total investment by IOC into subsidiaries and joint venture is Rs 2868.58 crore which is already in excess of the ceiling.
