CLB expected to give final ruling in Haldia case

The two conflicting partners in Haldia Petrochemicals Ltd (HPL) Purnendu Chatterjee and the West Bengal government, have failed to settle out of court their dispute over management control issues. The two are set to battle again before the Company Law Board in New Delhi. A final ruling from the CLB is expected after a two-day hearing. TCG is seeking to prevent the transfer of ownership to IOC and buy out the state's 36% stake, but Mr Chatterjee says the price sought is too high. With the assembly elections round the corner, the state government is likely to settle the issue before April.