Mauritius based Chatterjee Petrochem approaches Supreme Court for HPL case

The Haldia Petrochemical case has taken a new direction - as Chatterjee Petrochem (Mauritius) Company has approached the Supreme Court with reference to the case. A bench headed by Justice Ashok Bhan while issuing notice to HPL, WBIDC, West Bengal government, IOC, Purnendu Chatterjee, IDBI, Chatterjee Petrochem, Winstar India Investment Company and India Trade (Mauritius) Ltd. and others tagged the matter with a similar petition filed by group company Chatterjee Petrochem and pending before it. The Calcutta High Court had stayed a Company Law Board order directing the West Bengal government to exit from Haldia Petrochemicals by selling its 155 mln shares to The Chatterjee Group at a greater valuation to be determined by the board appointed valuer or at the rate of Rs 28.80 per share.
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