IOC and BPCL fined by CPCB for neglecting pollution control

The Central Pollution Control Board (CPCB) has penalised the state-owned Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) for failing to install pollution control equipment at their petrol stations.

 

IOC has been penalised Rs 1 crore, and BPCL has been fined a higher amount of Rs 2 crore, as both companies disclosed in their respective filings to the stock exchanges.

 

According to the IOC, the CPCB fined them Rs 1 crore for failing to install Vapour Recovery Systems (VRS) at retail establishments in the National Capital Region (NCR). They emphasised that they were subject to this penalty since they failed to install VRS at petrol stations within the date set by the Supreme Court.

 

The Environment (Protection) Act, 1986's Section 5 notifies the state-owned Indian Oil Corporation (IOC) and Bharat Petroleum (BPCL) that they must submit an environmental compensation of Rs 2 crore to the CPCB.

 

This is because, at their petrol stations and storage terminals, they neglected to install Vapour Recovery Systems within the time limitations set by the CPCB and the Supreme Court.

Related Blogs
blog-logo

Share Market

blog-logo

15 mins read . 08 Jul 2024

Best Oil & Gas Stocks in India

  • 0 people read
blog-logo

Share Market

blog-logo

11 mins read . 08 Jul 2024

How to Withdraw SIP Amount?

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions