The government of West Bengal (GoWB) would retain management control of Haldia Petrochemicals (HPL) after the Calcutta High Court today stayed the January 31 order of the Company Law Board (CLB) directing the government to transfer 155 million shares of HPL to The Chatterjee Group (TCG), which would have given TCG management control of the company.Justice Jayanta Biswas passed an interim order maintaining status quo on the position prior to passing of the CLB order on HPL on January 31, after hearing counsels of the West Bengal Industrial Development Corporation (WBIDC) and TCG.The court said the position prior to the passing of the CLB order be maintained until further orders or disposal of the appeal and fixed February 28 for the next hearing. A team appointed by GoWB is in charge of the management of HPL.
