CLB (Company law Board) chairman had last week suggested that TCG and WBIDC should meet the chief minister and try to resolve the IOC issue amicably. In a bid to settle the dispute over sale of Haldia Petrochemicals' shares to Indian Oil Corporation, Purnendu Chatterjee has sought to meet West Bengal Chief Minister. CLB has given a month's time for settlement and the next hearings are on October 26, 27 and 28.
Interestingly, IOC was conspicuous by its absence at the recent HPL board meeting. It seems that IOC's nomination to the board has not come through as yet, despite being allotted 8.5% shares in HPL. This was the reason that IOC was not represented at the meeting.
03-Oct-05 
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