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The present dispute arose from an agreement signed between The Chatterjee Group (TCG), the promoter of HPL, and West Bengal Industrial Development Corporation (WBIDC) on September 11, 2014, whereby the private party bought 52 crore shares from WBIDC for Rs 25.10 apiece
Manbro Energy Corporation, an Ohio-based company, had filed the breach of contract and breach of the implied covenant of good faith and fair dealing complaint, among others, against Chatterjee Advisors and its related entities for gyping them out of returns on their investment in HPL
The Mamata Banerjee government has been locked in legal disputes with several companies over the failure to pay financial incentives that were offered to persuade them to invest in Bengal