Question : RECONSTITUTION OF PARTNERSHIP

(a) whether it is the policy of the Indian Oil Corporation to accept the resignations from the Financial Partners of firms of Petrol pump SKO/LPG dealership and the firm is allowed to be reconstituted;

(b) if so, the period required/taken to complete the formalities keeping in view the fact that these products are covered in essential commodities;

(c) the number of such dealerships being run on adhoc basis due to pendency of such reconstitution proposals; and

(d) the time by which these proposals are likely to be cleared and the dealership firms will be allowed to be reconstituted finally?

MINISTER OF PETROLEUM & NATURAL GAS AND PANCHAYATI RAJ (SHRI MANI SHANKAR AIYAR)

(a) & (b): Indian Oil Corporation Limited (IOC) do accept resignations of financial partners from retail outlet (petrol pump) dealerships/ SKO-LDO dealerships/ LPG distributorships if such partners are signatory to the dealership/ distributorship agreements. Such dealerships/distributorships are allowed to be reconstituted, in terms of Company policy, depending upon the merits of the case. Since requests for reconstitution require detailed examination, and the process involves obtaining legal clearances, no specific time limit can be stipulated for taking a decision in the matter.

(c): IOC have reported that no IOC dealership is being run on an ad hoc basis owing to the pendancy of any proposal for reconstitution.

(d): Does not arise in view of reply to part (c) above.