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Gujarat Pollution Control Board levies fine on Deepak Nitrite; Stock under pressure

The Company has been directed by GPCB for payment of Rs1 crore as an interim Environmental Compensation.

June 13, 2022 12:13 IST | India Infoline News Service
Deepak Nitrite Ltd had earlier announced with respect to fire incidence around warehouse of Company's manufacturing site located at Nandesari, District Vadodara, in the State of Gujarat ('Plant').

As per the regulatory filing, the fire which included burning of bags and products within, also caused liberation of grey smoke thereby affecting ambient air quality in the nearby area, as per air monitoring carried out by Gujarat Pollution Control Board ('GPCB'). Further, dousing of fire generated large amount of waste water which was non-compliant due to usage of foam, as per samples drawn by GPCB outside the factory premises from GIDC storm water drain.

As a consequence, and considering the effluent so generated, both gaseous and liquid, GPCB, under provisions of Air (Prevention and Controt of Poltution) Act, 1981 ('Air Act') and Water (Prevention and Control of Pottution) Act, 1974 ('Water Act'), has issued directions for closure of the Plant.

The Company has been directed by GPCB for payment of Rs1 crore as an interim Environmental Compensation.

The Company has also been directed to submit Bank Guarantee of Rs5 Lakhs each under Air Act and Water Act, along with revocation application.

"We are in the process of complying with the directions of GPCB as well as other government authorities. We shall submit the comptiance report to the authorities soon and expect to receive the permission to restart the Plant after necessary inspections, audits done by the authorities to their satisfaction", said company in a filing.

At around 12:16 PM, Deepak Nitrite was trading at Rs1,843.90 apiece down by Rs10.8 or 0.58% from its previous closing of Rs1,854.70 apiece on the BSE.

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