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Haldia Petrochemicals Ltd to face an acute financial crisis   2  

November 01/2011

(Plastemart) -- The West Bengal government plans to take further steps after getting legal opinion on the aspects of the Supreme Court verdict on the share pattern of the company. With this the state government asserts that revival of the cash-starved Haldia Petrochemicals Ltd (HPL) is its top priority, as per IANS. HPL, co-promoted by the West Bengal government, is currently facing an acute financial crisis.


The Supreme Court recently dismissed the petition filed by Purnendu Chatterjee-led The Chatterjee Group (TCG), which is also a principal shareholder of HPL, against the decision of the Calcutta High Court allowing the state government to retain 155 million shares in the company.


The TCG had challenged the high court verdict that set aside an order of the Company Law Board directing the state government to exit from HPL by selling its stake to the joint venture partner TCG.
The state opines that the current sickness in HPL is not only because of the share pattern, but also because of technology, marketing and decision making.


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  • Basant Patra 04.11.2011 07:33:57
    • Votes: 1
    Running Smoothly for 5 Years with On-line Maintenance and Optimum(Not Maximum) Productivity wrt Market Dynamics is the Key to SUCCESS, Ofcourse Steps to Higher Margin is MUST.

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  • Narattam 04.11.2011 07:15:43
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    There is nothing wrong with Technology. All Technology are of state of the art, modern and capable of producing superior products.
  • Basant Patra 04.11.2011 07:33:57
    •  
    • 1
    •  
    Running Smoothly for 5 Years with On-line Maintenance and Optimum(Not Maximum) Productivity wrt Market Dynamics is the Key to SUCCESS, Ofcourse Steps to Higher Margin is MUST.

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