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GPCB levies fine on Deepak Nitrite Ltd, sends closure notice

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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’).

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 Rs. 1 crore as an interim Environmental Compensation.

The Company has also been directed to submit Bank Guarantee of Rs. 5 Lakhs each under Air Act and Water Act, along with revocation application.

The company is in the process of complying with the directions of GPCB as well as other government authorities. The company shall submit the compliance 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.

Shares of Deepak Nitrite Limited was last trading in BSE at Rs. 1854.70 as compared to the previous close of Rs. 1785.25. The total number of shares traded during the day was 244300 in over 18325 trades.

The stock hit an intraday high of Rs. 1860.00 and intraday low of 1757.00. The net turnover during the day was Rs. 447611164.00.

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