The court asked the government to seek Parliament's approval for the sale of the oil companies, through which the government hoped to meet a major portion of its divestment target of Rs 13,200 crore (Rs 132 billion).

Divestment Minister Arun Shourie sought a clarification on the judgment, and which ruling is awaited.

Desperate to meet its divestment target in the current fiscal year, the government in late December decided to sell a 10 percent stake in the Oil and Natural Gas Corporation and the Gas Authority of India Ltd.

Text: Nandita Mallik

Govt to divest 10% in GAIL, ONGC
SC halts HPCL, BPCL sell-off
Oil companies go on an acquisition spree
The Divestment developments