Kochi : The High Court on Thursday annulled its Single Bench ruling that directed oil marketing companies to sell diesel to KSRTC at market rate. The verdict came from Division Bench in its hearing of appeal submitted by the oil companies.
For KSRTC, purchase of diesel at market prices meant reduced fuel expense of around Rs 40 crores a month. The Corporation was plunged into crisis by Central policy and the Single Bench order spelt respite. With Thursday verdict however, that relief stands overturned.