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Saturday, Mar 08, 2003

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HSBC advisor for HPCL

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NEW DELHI, March 7

THE Core Group of Secretaries on Disinvestment met on Friday to discuss the final draft of the transaction documents pertaining to the privatisation of Shipping Corporation of India (SCI).

The meeting is also understood to have ratified the appointment of HSBC as the advisors to the Government for the privatisation of HPCL.

The Disinvestment Secretary, Mr S. Meenakshisundaram, told Business Line that the recommendations of the Core Group on the draft transaction documents for the sale of SCI would be referred to the Cabinet Committee on Disinvestment (CCD).

"It is for the CCD to take a final view on the draft documents," he added.

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