Key Quantitative Figures
- Bank Guarantee Amount: ₹25 Lakhs
Parties Involved
- Regulatory Authority: Maharashtra Pollution Control Board (MPCB)
- Listed Entity: Garware Hi-Tech Films Limited
Nature of Action
MPCB has forfeited the Bank Guarantee of ₹25 Lakhs furnished by the Company in favor of MPCB as part of its consent conditions. The action was taken for alleged non-compliance of consent conditions observed during a personal hearing at site.
Company's Response
The company states that it has already taken effective steps and necessary compliance has been done, and the same has been informed to MPCB.
Financial Impact
- Immediate financial impact is limited to the encashment value of Bank Guarantee: ₹25 Lakhs
- No material impact on business operations or any other activities of the Company