The Chatterjee Group has moved the Supreme Court to stop the divestment process in Haldia Petrochemicals initiated by the Bengal government. The petitions challenge a Calcutta High Court judgment that denied permission to a TCG firm from approaching the International Court of Arbitration (ICA) in Paris to decide on the ownership dispute of HPL. It also contests the observation made by the high court while passing judgment on the ICA case that the Supreme Court in a previous occasion had dealt with the matter relating to majority and control of HPL on merit.
A TCG firm has filed two special leave petitions before a division bench of the apex court comprising Justices G.S. Singhvi and V. Gopala Gowda who are expected to hear the matter early next week. The Supreme Court bench has asked the respondents — the West Bengal Industrial Development Corporation and HPL — to file all papers pertaining to the case within a week. TCG firm Chatterjee Petrochem (Mauritius) Company also disputed the observation made by the high court on the 15.5 crore shares that have been put on the block by the WBIDC on behalf of the Bengal government.