TCG and West Bengal Govt on path to reconciliation?

Co-promoters of Haldia Petrochemicals Ltd (HPL)- The Chatterjee Group (TCG) and West Bengal government appear to be cautiously treading the path of reconciliation as per The company shows signs of emerging from its worst performance since inception and a share sale to a strategic investor looking inevitable. TCG has decided not to escalate the legal battle by challenging the contentious appointment of Sumantra Choudhury, a retired government officer, as HPL’s managing director, while West Bengal’s commerce and industries minister Partha Chatterjee said in an interview on Saturday that he did not want the animosity between HPL’s co-promoters to intensify. TCG, in not, however, giving up its outstanding lawsuits against HPL and the state.
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