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  1. We will abide by law of land, says Vedanta’s Anil Agarwal

We will abide by law of land, says Vedanta’s Anil Agarwal

In a Twitter broadcast, Agarwal said he was saddened by the unfortunate turn of events at Tuticorin. “I am very sad to hear the incident. This was absolutely unfortunate and my full sympathy with the families (of the deceased),” he said.

By: | Chennai | Published: May 25, 2018 3:20 AM
Vedanta Chairman Anil Agarwal

In a damage control exercise in the wake of the violent incidents around its Sterlite Copper plant in Tamil Nadu’s Tuticorin, Vedanta chairman Anil Agarwal on Thursday said that his company would abide by the law of the land as it wanted to continue with the business in the area.

He added that they were committed to the community and people of Tuticorin.

In a Twitter broadcast, Agarwal said he was saddened by the unfortunate turn of events at Tuticorin. “I am very sad to hear the incident. This was absolutely unfortunate and my full sympathy with the families (of the deceased),” he said.

He further said that the plant had been closed because of an annual shutdown, and the company was waiting for clearance from the court and government to restart the plant.

“We are strictly following the court and the government orders. We always make sure the community and Tuticorin’s people at large prosper with us. I am totally committed for the community, people at large and with their wish and with their prosperity, we would like to to continue with this business. I am fully committed to the environment. We will abide by the law of the land,” said Agarwal.

Meanwhile, Vedanta, the parent company of Sterlite Copper, in a regulatory filing to stock exchanges, while acknowledging the receipt of an order from the Tamil Nadu Pollution Control Board for closure of the plant, said it continues to work with the regulatory authorities, at all times ensuring compliance with the necessary regulations.

It further said that the copper smelter plant has contributed `1,373 crore, or 5.4% of the consolidated Ebitda, during the last financial year, 2017-18, and the carrying value of the property, plant and equipment as on March 31, 2018 was `2,131 crore, or 2% of total assets.

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