“The issue pertains to allegation for unauthorised disposal of fly ash. The Member Secretary… requested the company to deposit the environmental compensation of Rs 71,16,53,320,” Vedanta has said in a filing to BSE.
New Delhi: Vedanta has said that State Pollution Control Board, Odisha, has asked it to deposit a compensation of Rs 71.1 crore for unauthorised disposal of fly ash.
Fly ash is a fine, powdery waste material created when coal is burned in power plants.
“The issue pertains to allegation for unauthorised disposal of fly ash. The Member Secretary… requested the company to deposit the environmental compensation of Rs 71,16,53,320,” Vedanta has said in a filing to BSE.
It said it 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 company,” the filing said.
Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world’s leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore,steel, nickel, aluminium, power and glass substrate and foraying into semiconductors and display glass.
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