OEX 20.0% 0.6¢ oilex ltd

Oex psa, page-12

  1. 240 Posts.
    An issue to be aware of is that the legal system in India is fundamentally flawed. Combined with the government being in business means that the legal system has to be independent in order to pass judgement on Govt businesses. This is not the case.
    An example is that the Director General Hydrocarbons, which is the Govt overseer to hydrocarbon assets, uses personnel seconded from ONGC, a government oil and gas company. Admittedly, ONGC is on the share register, but it is owned 80% by the Government and acts in the best interest of its major shareholder.
    So the government oversees its own business. Fundamental flaw.
    Fighting GSPC on legal grounds is warfare in India!
 
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