New Delhi: Indian Oil Corporation has threatened to pull out from equity participation in Haldia Petrochemicals if Mukesh Ambani-controlled Reliance Industries is given management control.
IOC Chairman And Managing Director Sarthak Behuria said, "There is no place for two in HPL". He added, "Since Reliance would be seeking management control in HPL, IOC would have to opt out as it is also keen to run the company."
The IOC Chairman also said, his company was ready to buyout HPL once the matter pending with the Company Law Board (CLB) was sorted out.
Meanwhile sources in the West Bengal government say that while Reliance has been interested in Haldia for a while now, no firm offer has been made as yet as Haldia's ownership is in unresolved.
Purnendu Chatterjee of TCG, one of the principal promoters of HPL, had moved CLB against the West Bengal government, seeking stay of shares allotment to IOC.
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