Legal18 Jul 2026, 03:40 pm
Prism Johnson Ltd: MPCB Invokes ₹10 Lakh Bank Guarantee
AI Summary
Prism Johnson Ltd has been informed by Kotak Mahindra Bank that the Maharashtra State Pollution Control Board (MPCB) has directed the forfeiture of a ₹10 Lakh bank guarantee. The guarantee was provided for alleged non-compliance of consent conditions at the Runwal Thane captive RMC Plant. The company states it has not received any prior communication from MPCB regarding these alleged non-compliances. The immediate financial impact is limited to the ₹10 Lakh guarantee amount, with no material impact on business operations.
Key Highlights
- MPCB directed forfeiture of ₹10 Lakh bank guarantee.
- Alleged non-compliance of consent conditions cited.
- Company claims no prior communication received.
- Immediate financial impact limited to guarantee amount.
- No material impact on business operations expected.
Price Impact
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