Haldia Petrochemicals Ltd failed to meet export commitment for which it had got advance licenses. The HPL plant in West Bengal has been under closure since last six months.
"Since 2009, HPL was getting advance license for duty-free import of naphtha against exports of finished products," a source has been reported by economictimes.com. However, owing to poor pricing, the company could not send its finished products overseas, for which it had availed of duty-free naphtha imports.
No comments were received from the company. Since 2009, the company had four managing directors, namely Swapan Bhowmick, Partha Bhattacharya, Sumantra Chaudhury and Uttam Basu. Basu resigned from the company before his term was to end on December 31, 2014. The company was exporting its products not only to neighbouring Bangladesh and Nepal but also to European countries.
30-Dec-14 
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