Reliance Industries on Thursday began the due-diligence of Hindustan Petroleum Corporation Ltd, where the government has proposed to offload 34.01 per cent stake to a strategic partner.
Reliance officials visited the data room of HPCL in Delhi for scrutiny of company books, sources said.
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Petroleum ministry is understood to have written to the divestment ministry asking it to postpone the due diligence to next week.
Sources said petroleum ministry wants a clarity on the issue of parliamentary approval before the process begins.
As per the due diligence schedule, each bidder will be given 12 days for the process after which price bids would be called for.
The other bidders for the country's second largest oil firm are British Petroleum, Kuwait Petroleum, Petronas of Malaysia, the Shell-Saudi Aramco combine and Essar Oil.
As per the current schedule drawn by lead manager HSBC, the bidders' visit to the data room was to be completed by October 4.
As for marketing terminals, the last date for all visits by bidders was mid-October.
