Corporate
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Corporate Disputes
No letup in fight for Haldia Petro
Our Bureau
Kolkata
April 18
An amicable solution to the Haldia Petrochemicals Ltd (HPL) imbroglio seems to be nowhere in sight.
Both the promoters of the company - The Chatterjee Group (TCG) and the West Bengal Government - are fighting a pitched battle in the Calcutta High Court contesting a previous order by the Company Law Board.
Replying to queries on the possibility of an out-of-the-court settlement, Dr Sabyasachi Sen, Principal Secretary to the State Commerce and Industry Ministry and nominee on the HPL board, said: "The issue will be resolved in the court of law."
Dr Sen was speaking to newspersons after the HPL board meet in the city today.
Earlier, company Chairman Mr Tarun Das failed to promise an end to imbroglio. He also made it clear that the board has not discussed any such issue in today's meeting. "This is an issue to be resolved by the two shareholders."
Mr Das also refuted the possibility of impact of the same on the company's growth potential. The TCG Chairman, Mr Purnendu Chatterjee, preferred to absent himself from Mr Das's media briefing.
Related Stories:
CLB chief hints at end to Haldia dispute
Haldia Petro: CLB defers decision on IDBI application
`Legal battle hurting Haldia Petro badly'
Haldia Petro: CLB reserves order on TCG plea, clubs it with main petition
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