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BPCL divestment process may face resistance from Kerala govt, employees

A few employee unions have already approached the Bombay High Court with two writ petitions

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In the petition, the unions have argued that compared to the Essar deal of Rosneft, the total valuation of BPCL for the purpose of disinvestment — based on share price — is incorrect

Shine Jacob New Delhi

3 min read Last Updated : Jul 31 2020 | 6:06 AM IST

The divestment process of Bharat Petroleum Corporation (BPCL) is likely to face resistance from the Government of Kerala and employees of the oil and gas company examining legal options.

A few employee unions have already approached the Bombay High Court with two writ petitions, in which they argue that if BPCL is allowed to be sold by stock market share value, the loss to the government exchequer will be to the tune of Rs 4.5 trillion. On July 22, the unions further moved court with a plea for immediate admission and hearing of the writ petition.

On the other hand, the Kerala

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