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People & Business :: M&A

Haldia Managing Director Resigns as Battle for Control Continues

June 20, 2012 | Natasha Alperowicz

The managing director of Haldia Petrochemicals Ltd., (HPL; Kolkata, India), Partha S. Bhattacharyya, resigned on Tuesday citing personal reasons. His resignation adds a new twist in the ongoing battle for control of HPL, the only petchems producer on India’s east coast. The HPL board accepted the resignation and appointed Sumantra Chowdhury, former state transport secretary, as his successor. The board meeting was chaired by West Bengal Industry Minister Partha Chatterjee, who is also HPL’s chairman. Alapan Bandyopadhyay, commerce and industry...

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