The State Government nominees on the board of Haldia Petrochemicals Ltd (HPL) today appreciated the need to resolve the long-standing ownership ‘dispute' – on the company — without triggering any further litigation, according to sources.
The decision was unanimously accepted by the board of directors of HPL at its meeting held on Monday. The State Government has three nominees on the board of the ailing joint stock company.
“On the issue of ownership dispute, the board expressed unanimously the need to secure a speedy resolution of the dispute in a transparent manner without triggering any further litigation,” a company release said referring to the resolutions in today's board meet.
Apart from the State nominees, HPL board includes the representatives of the Chatterjee Group led by Mr Purnendu Chatterjee; Independent Director Mr Jamshyd Godrej, Managing Director Mr Partha Bhattacharyya and nominees of lenders.