Tyre manufacturing company CEAT on Monday, Novermber 6, said that the Maharashtra Pollution Control Board has directed the firm to shut down operations at its Bhandup plant in Mumbai.
"This is to inform that the Company has received an email communication from the Maharashtra Pollution Control Board, which has directed the Company to close down operations at the plant at Bhandup, Mumbai, in view of certain alleged violations of the pollution control norms. We are studying the order and shall appropriately act on it," it said.
CEAT assured stakeholders, saying that all its plants are operated consistently in compliance with applicable laws and the internal standards that are followed are tougher than the prescribed norms.
Shares of CEAT Ltd were trading 1.32% lower at ₹2,100.20 apiece on the NSE today. The scrip has gained nearly 30% since the beginning of this year.
