Question

Which among the following company/entity has a majority stake in the West Bengal-based Haldia Petrochemicals Ltd (HPL)?

• A. Purnendu Chatterjee
• B. Tata group
• C. West Bengal government
• D. TOC

Hint:

Think about the long running ownership fight between the West Bengal government and HPL's private promoter, The Chatterjee Group.

Answer 1

The Correct Option is A

Step 1: Understanding the Question:
The question asks who holds the majority stake in Haldia Petrochemicals Ltd (HPL), a large petrochemical plant set up in West Bengal.

Step 2: Key Approach:
HPL was set up as a joint venture. Control of the company became a matter of dispute between its private promoter and the state government, so we need to know which side actually held the bigger share.

Step 3: Detailed Explanation:
HPL was promoted jointly by the West Bengal government and The Chatterjee Group (TCG), a business house run by Purnendu Chatterjee, along with Tata group and IOC as smaller partners in the original consortium.
Through TCG and its associate companies, Purnendu Chatterjee built up the largest combined shareholding in HPL, ahead of the state government's own holding, which is why control of the company stayed a matter of dispute for years.
Tata group (option 2) was only a minor partner in the original venture and never held a majority stake.
The West Bengal government (option 3) is a large shareholder but not the majority one once Chatterjee's group of companies are counted together.
Option 4 does not name a real controlling party in HPL.

Step 4: Final Answer:
Purnendu Chatterjee, through The Chatterjee Group, holds the majority stake in Haldia Petrochemicals Ltd.