HPCL head to retain designation if ONGC follows Coal India model

Hindustan Petroleum Corp Ltd (HPCLBSE -4.64 %) Chairman and Managing Director Mukesh Kumar Surana will continue to hold his designation if the firm’s new promoter, ONGCBSE -1.36 % is to follow the Coal India Ltd-model for governance of subsidiaries.

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ONGC last week completed acquisition of government’s 51.11 per cent stake in HPCL for Rs 36,915 crore.

HPCL is now a subsidiary of ONGC and it has been speculated that Surana will lose the Chairman’s tag and would be r ..

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