Chatterjee seeking to move an international arbitration forum in Paris dismissed by Calcutta High Court

06-Jun-13

The appeal of The Chatterjee Group (TCG) of Mr Purnendu Chatterjee seeking to move an international arbitration forum in Paris over 1.55 million shares in Haldia Petrochemicals Limited (HPL) was dismissed by the Division Bench of Mr Arun Mishra, Chief Justice and Mr Justice Joymalya Bagchi of Calcutta High Court today. The plea was opposed by HPL and WBIDC and a Single Bench order had upheld their contention seeking restraining TCG from moving the Paris-based arbitration forum, as per SNS and PTI. Meanwhile, Mr Partha Chatterjee, West Bengal industry minister said that the disinvestment process of Haldia Petrochemicals Ltd (HPL) would be completed within time. “We hope to complete the disinvestment in HPL within time. The new owner will put in money to revive the company,” Mr Chatterjee told reporters after the company's board meeting here.