Hindustan Organic Chemicals has reportedly sought shareholders' nod to sell 442 acres of land at Maharashtra to BPCL at Rs 1.4 crore per acre. Further, the company has also sought approval to divest its 56.43% stake in Hindustan Fluorocarbons.
Hindustan Organic Chemicals was set up by the Government of India in 1960 with the objective of attaining self-reliance in basic organic chemicals needs.