I have pointed out earlier the proposal of the government to disinvest further shares of ONGC, either direct or through buy-back route. Yesterday the bids for ONGC shares was done and it is reported that 42.77 crores shares were sold getting about Rs.12,000 crore.

Interestingly. it was also reported that the ONGC top management was completely kept out of the bid processing with neither the Chairman nor the Company Secretary present in the decision-making meeting.  Were they omitted, since there were some objections from them? We will know in the coming days about what happened behind the curtains.