The apex court of India has asked the Sterlite Industries, a unit of the London-listed Vedanta Resources, to pay Rs 100 crore as compensation for flouting green norms in the southern Indian state of Tamil Nadu.
The Supreme Court of India has asked the Sterlite Industries to pay Rs 100 cr compensation for polluting environment in Tamil Nadu
The Supreme Court today asked Sterlite Industries, a subsidiary of UK-based Vedanta Group, to pay Rs 100 cr as compensation for polluting environment through its copper smelting plant in Tamil Nadu .
A bench headed by Justice A K Patnaik said that the environment has been polluted for a long time due to the discharge from the plant of the multinational company and it has to pay compensation. Imposing the compensation on the company, the bench said, amount less than 100 crore rupees would not have the desired impact.
The apex court however refused to direct its closure, setting aside a 2010 Madras High Court order to close the copper plant, which produces nearly 400,000 tonnes annually, sending shares of Indian-listed Sterlite soaring nearly 3 per cent.
The Madras High Court had told Sterlite to shut the plant, one of the world’s leading copper smelters which lies in an ecologically fragile coastal area, to protect “mother nature” from “unabated air and water pollution”.
SOURCE: The Supreme Court of India