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Environment, Health and Safety Maharashtra Ministry of Environment, Forest & Climate change Air (Prevention and Control of Pollution) Act, 1981

Maharashtra Pollution Control Board has issued Circular Imposing 12% Interest on Non-Submission of Bank Guarantee within prescribed time limit imposed by the Board

29-Feb-2024 | No. BO/MPCB/AS(T)/Circular/B-240229 FT50122

Maharashtra Pollution Control Board has issued Circular Imposing 12% Interest on Non-Submission of Bank Guarantee within prescribed time limit imposed by the Board.

By virtue of the Circular, Maharashtra Pollution Control Board has decided to impose 12% interest as a penalty on industries, HCE's, Local Bodies, etc., for non-submission of Bank Guarantee within prescribed time limit imposed by the Board.

Further, accordingly 12% interest will be imposed from the date of actual imposition of BG on industries, HCE's, Local Bodies, etc., for non-submission of Bank Guarantee within prescribed time limit imposed by the Board.

However, Industries, HCE's, Local Bodies, etc., which have been imposed with the condition of Bank Guarantee in the consents accorded/directions issued by the Board and those industries which have not submitted the Bank Guarantees will have to submit the Bank Guarantees immediately.

Note: this circular will come into force from 01st March 2024 & accordingly the days to impose 12% interest for non-submission of Bank Guarantee will be calculated from the prescribed time limit imposed by the Board for submission of Bank Guarantee up to actual submission of Bank Guarantee and is applicable to all pending Bank Guarantees where the 12% interest amount to be paid by PP through online e-payment gateway only.

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