BPCL sale runs into new hurdle

 The Numaligarh Refinery Limited (NRL) and Kochi Refinery Limited (KRL), both subsidiaries of BPCL, are yet to receive Rs 46 crore and Rs 37 crore, respectively, from the oil pool account.

 The petroleum ministry has argued that at the time of offloading of shares, the company has to account for this amount.

 While dismantling the administered pricing mechanism in the oil sector in April 1, 2002, the government had paid Rs 9,000 crore to oil companies against a part of their dues in the oil pool account.

 The payment was made through the issue of the 6.96 per cent Oil Companies