Indian Oil Corporation (IOC), the sole bidder for picking up a stake in Haldia Petrochemicals Ltd. (HPL), has sought the release of its earnest bid money, indicating withdrawal from the sale process. “We have written a letter asking for the earnest money of around Rs 20 crore submitted for the bid,” an IOC official told PTI. IOC is of the view that the recent developments on the legal front between the State Government and promoter The Chatterjee Group (TCG) will delay a final order on the 155 million shares in question.
15-Jan-14 
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