The Hindu Business Line : Haldia Petro case adjourned till March 12

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Kolkata Feb. 28 Justice Jayanta Kumar Biswas of the Calcutta High Court today adjourned the Haldia Petrochemical case till March 12. Counsel for Chatterjee Petrochem (Mauritius) Co (CPMC) submitted today before the court that The Chatterjee Group had filed four cross appeals against the order of the Company Law Board in January this year.

The four companies are — Chatterjee (Mauritius) Ltd, Chatterjee Petrochem (Mauritius) Ltd, Chatterjee Petrochem India Ltd and India International (Mauritius) Ltd — sister concerns of The Chatterjee Group having shares in Haldia Petrochemical Ltd (HPL).

Counsel for the State and IDBI stated that they would go through the contents of the cross appeals. Before doing so, they were not in a position to argue the matter.

In the cross objections, according to counsel of The Chatterjee Group, the State Government had no locus standi in the matter as it did not have any stake in HPL. Counsel further stated that the order of the CLB did not affect the State Government at all.

Counsel for the State Government objected to this and said that the State Government was prejudiced by the order of the CLB.

After hearing the parties, the court adjourned the matter.

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