![]() Sunday, Sep 21, 2003 |
| Southern States | ||||
|
News:
Front Page |
National |
Southern States |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Advts: Classifieds | Employment | Obituary | Southern States
-
Kerala
By N.J. Nair
The PCB had sought legal opinion to issue a showcause notice to the company. Legal experts are known to have given consent to the PCB to take action against the management of the TTP. Earlier, the PCB on July 14 had decided to issue `intention to closure notice' to the company and summon the managing director and seek his explanation for the delay. These decisions had to be shelved under political pressure on the Government, sources said. Though the PCB has been vested with the powers to take remedial steps, it did not implement the decisions taken on July 14. Following complaints of inaction, the chairman of the PCB had sought an `action-taken report' and the PCB officials suggested that legal opinion be sought to issue a showcause notice. Before deciding to proceed against the company, the PCB had sought the permission of the Government and that was also granted. The issue is likely to figure again at the next meeting of the PCB on September 30 and strong action may be recommended against the company, it is learnt. But TTP sources said since the company cannot implement the project costing around Rs.150 crores on account of a funds crunch, the Government should provide financial assistance for the project. As per the project cleared in 2001, the cost was Rs.108 crores. But later it was increased to Rs.150 crores. The company had been consistently registering profits and had paid a huge sum as sales tax to the Government as the Titanium pigment was marketed through yet another Government agency. The Government should hence provide assistance to set up the plant, sources said.
Printer friendly
page
News:
Front Page |
National |
Southern States |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|