Purnendu Chatterjee likely to be appointed Haldia chairman

Confirming its decision to keep away from interfering in the management of Haldia Petrochemicals, the West Bengal government is likely to agree to appoint Purnendu Chatterjee as the firm’s chairman. The state government does not intend to play any role in the running of HPL. TCG founder and New York-based venture capitalist Purnendu Chatterjee is currently HPL’s vice-chairman. For the past six years, he has been fighting a legal battle with the state government over HPL’s ownership and management control. The Left Front-controlled state government, has been ousted from power last month, hence HPL’s ownership issues may start ironing out. As per the newly appointed minister, Purnendu Chatterjee will have to first prepare a plan to revive the company and decide how he intends to settle the dispute over ownership. Accordingly, the new chief minister will decide whether or not to appoint him chairman. Currently, the state government is reviewing the problems of HPL and is examining how the dispute over ownership between TCG and the erstwhile Left Front government impacted the company’s operations.
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