INDIA BUSINESS WORLD SEPTEMBER (16^th - 30^th) 2007
The Month that was ...

SUPREME COURT PUTS HALDIA PETRO ORDER ON HOLD

The Supreme Court has put on hold the Calcutta High Court judgement that set aside the Company Law Board order directing the West Bengal government to sell all its shares in Haldia Petrochemicals Ltd to The Chatterjee Group (TCG). A bench headed by Justice Ashok Bhan temporarily deferred the High Court order for four weeks after senior counsel F S Nariman, appearing for Chatterjee Petrochem (India), sought a status quo order on the ground that the company had not been given a copy of the judgement. The bench directed that interim order dated February 16, 2007 , passed by the High Court would continue for four weeks from now. The High Court in its order had directed that the position existing on the date of the CLB order would continue till the disposal of the appeal.