The consortium of banks and financial institutions, led by the Industrial Development Bank of India (IDBI), is set to pull the plug on the Rs 5,600 crore Haldia Petrochemicals.
The lenders are expected to issue a notice to the company recalling their loans any day now. At the next stage, they plan to slap the 60-day notice under the Securitisation Ordinance to seize the assets of the company.
Haldia Petrochemicals officials said in Kolkata they were unaware of any such move on the part of the financial institutions.
