The Hindu Business Line : Haldia Petro: TCG, Bengal Govt resolve to sort out issues

REPRESENTATIVES of the West Bengal Government and The Chatterjee Group (TCG) are likely to sit down and sort out all the contentious issues relating to Haldia Petrochemicals Ltd.

Sources in TCG said preliminary discussions had been held with the West Bengal Government. It was decided that both the sides would nominate representatives to discuss the issues involved.

"Once the contentious issues are resolved by the nominated representatives, a complete proposal, acceptable to both sides, would be prepared and forwarded to the higher authorities," sources said.

Though they did not elaborate on the status of the "higher authorities", it is learnt that the proposal would be taken to the board of directors of Haldia Petrochemicals and also the Company Law Board.

Sources added that a clear picture of the whole process would emerge by the end of the week.

Haldia Petro board meet

Meanwhile, the board meeting of Haldia Petrochemicals was held in New Delhi on Tuesday. Sources said it was a routine affair and was convened to meet official regulations.

This was the first board meeting after the two sides decided to work out a solution. Expectations were high that Dr Chatterjee will place a proposal to the other directors. However, that did not happen, sources said.

"As already decided by everyone concerned, no contentious issue was raised at today's meeting which was attended by Dr Chatterjee," sources said.

It may be noted that the Company Law Board had urged The Chatterjee Group and the West Bengal Government to work out a compromise.The matter is scheduled to come up for another round of hearing at the Company Law Board on January 12 and 13.