Indian OIL Corporation (IOC) has challenged The Chatterjee Group's (TCG) objection to its entry into Haldia Petrochemicals (HPL). As per IOC, TCG had initially suggested and supported its induction as an independent investor in HPL. This was clarified by IOC in the proceedings regarding the stake sale before the Company Law Board. TCG had agreed to IOC being brought in as an investor as at that time, Haldia Petrochemicals was incurring losses and was in need of funds.
13-Jul-06 
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