New Delhi: Government may approach the Supreme Court by October 15 to seek clarification on whether there was a direction to frame a law on disinvestment in the verdict halting sale of equity in two oil Public Sector Units (PSU) Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL).

Preparing for a review-cum-clarification petition before the apex Court, Disinvestment Ministry officials are likely to meet the Attorney General in a day or two to decide on the strategy to be followed, Ministry sources said in New Delhi.

A clarification may also be sought on whether or not Parliament should be approached for any divestment in view of the Court's observations that in the establishment of any company by government, equity is purchased from out of the proceeds of Consolidated Fund of India, which is approved by Parliament.

Sources said that as per Article 298, the Executive (government) was vested with powers to buy or sell properties adding that the clarification could be for knowing the implication of certain observations in the apex Court's judgement on these powers.

Sources said a review-cum-clarification petition was well within the law and that it should not be construed as a confrontationist stance of the Ministry.

PTI