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RIL had objected to the state government's decision to receive bids in sealed envelopes instead of an open auction.
The legal battle for control of Haldia Petrochemicals Ltd took a new twist on Wednesday when The Chatterjee Group contended before the Company Law Board that 15.5 crore (Rs 155 million) shares of the company were unaccounted for.
Cites legal battle among latter's promoters as reason for staying away from cash-strapped venture.
Petrochemicals major in talks with rubber producer from Europe, two Western technology providers.
IndianOil already has a 8.89 per cent stake in HPL by virtue of a Rs 150-crore (Rs 1.5-billion) investment made in 2004.
The maiden public offer of Haldia Petrochemicals Ltd would hit the capital market in the third quarter of the current financial year.
The HPL board had reinstated its CDR committee to woo lenders.
The West Bengal government on Thursday refuted the allegations of The Chatterjee Group and told the Company Law Board there was nothing illegal in 15.5 crores additional shares of Haldia Petrochemicals Ltd.
Executives from private companies such as Shell and Blackstone are likely to be invited for interviews for the post of chairman and managing director of state-run Oil and Natural Gas Corporation.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
Gail to finalise HPL equity participation soon
Nandigram, 126 km south of Kolkata, is Suvendu Adhikari's bastion, where he has vowed to defeat Mamata Banerjee by 50,000 votes or quit politics.
Bankers of HPL too have endorsed the idea and are pitching hard for the chairmanship of Chatterjee.
While the Trinamool government, led by Chief Minister Mamata Banerjee, tried its best to attract investors, including from Singapore, not much headway could be made.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Banerjee has fulfilled two key electoral promises: Ridding Lalgarh of Naxals and bringing peace to Darjeeling
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By the end of 2020, India will lay 32,737 km across the length and breadth of the country. It needs to lay down and comply with strict safety standards especially since some of these pipes will go through areas of dense habitation, says Rashme Sehgal.
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