Indian Oil acquires 100% stake in MPL
MPL is having oil and gas exploration block located in Cambay Basin, Gujarat.
New Delhi: Indian Oil Corporation Limited (IndianOil) acquisition of a 100% stake, about Rs 148 crore in Mercator Petroleum Limited (MPL) has been approved by the Hon’ble National Company Law Tribunal, Mumbai. Bench vide its order dated 2nd November 2023 under the relevant provisions of the Insolvency and Bankruptcy Code, 2016.
Read Also : Miner's Day celebrated with great enthusiasm at SECLMPL is having oil and gas exploration block located in Cambay Basin, Gujarat. IndianOil will implement the Resolution Plan and complete the regulatory processes, including obtaining necessary approvals, if any, for successful implementation of the Resolution Plan.
Read Also : RailTel signs MoU with Quadrant Future Tek LimitedIndianOil cautions that the forward-looking statements are based on reasonable assumptions and no assurance can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed.
Read Also : WRLDC, GRID-INDIA organized session focused on Web-Based Energy Scheduling softwareNews Must Read
- WAPCOS became second Indian PSU in ADB Consulting
- Power Grid appoints Satyaprakash Dash as CS and Compliance Officer
- GE Power received orders from two state-owned PSUs and one JV entity
- SAIL-RITES JV bags Rs 818 crore wagon order from Indian Railways
- BHEL enters into Strategic Partnership Agreement with HIMA for Railway Signalling Business
- SJVN bids farewell to Smt. Geeta Kapur, CMD and Director (Personnel)
- Nilendu Kumar Singh assumes charge of CMD, CCL
- IndianOil Q4 Results: Profit plunges 52% YoY to Rs 4,838 crore
- REC Limited declares financial results, records highest ever annual net profit
- NHPC Limited to collaborate with Norwegian company