Hindustan Zinc faces penalty from Member of Secretary, State Pollution Control Board, Odisha
Hindustan Zinc, an associate of Vedanta Group has made a disclosure in an exchange filing that it has been imposed a monetary penalty from the Member of Secretary, State Pollution Control Board, Odisha.
New Delhi: Hindustan Zinc, an associate of Vedanta Group has made a disclosure in an exchange filing that it has been imposed a monetary penalty from the Member of Secretary, State Pollution Control Board, Odisha.
As per the filing made, the issue pertains to allegations for unauthorised disposal of fly ash. The Member Secretary has requested the company to deposit the Environmental Compensation of Rs 7.1 crore.
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The said decision imposed as Environmental Compensation was taken without taking into consideration the compliances and submissions by the company.
The company has affirmed that it has a strong case on merits. Further, the company intends to take legal recourse in the present matter before the appropriate forum.
The company is hopeful of a favorable outcome thereof and does not expect the said order to have any material financial impact on the business. It is in the process of assessing the matter and examining the veracity.
Shares of Hindustan Zinc were trading higher by 3.17 percent at Rs 413.30 at the time of closing.
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