Auto component maker Bosch to resume Bengaluru plant operations from May 8
Auto component major Bosch will restart operations at its Bengaluru plant from May 8, Monday after the state anti-pollution body clarified that the closure notice is not applicable to the company's facilities.
Auto component major Bosch will restart operations at its Bengaluru plant from Monday after the state anti-pollution body clarified that the closure notice is not applicable to the company's facilities.
Through a notification dated May 5, the Karnataka State Pollution Control Board (KSPCB) directed closure of all industrial units within the catchment area of Bellandur lake in Bengaluru citing environmental concerns.
After receiving the notice, Bosch on Saturday announced that it will temporarily suspend operations at its plant in Adugodi in Bengaluru.
ALSO READ: Auto component maker Bosch shuts Bengaluru plant as pollution board serves notice
The company subsequently made a representation to pollution control board authorities who have clarified that the provisions of the public notification are not applicable to the company's facilities, Bosch said in a regulatory filing on Sunday.
"Normal operations at the facilities will resume with effect from May 8," Bosch said, adding that "the company does not foresee any financial impact or turnover loss on account of this temporary closure".
The company had on Saturday said the approximate loss of turnover per day is Rs 393 lakh per day in case supplies to customers are affected.
"The company having regard to the highest standards it observes with respect to environment protection and legality has been operating at all its facilities in accordance with prescribed environmental norms," the auto component maker stated.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Fundamental picks by brokerage: These 3 largecap, 2 midcap stocks can give up to 28% return - Check targets
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
Tamil Nadu Weather Alert: Chennai may receive heavy rains; IMD issues yellow & orange alerts in these districts
SIP+SWP: Rs 10,000 monthly SIP for 20 years, Rs 25 lakh lump sum investment, then Rs 2.15 lakh monthly income for 25 years; see expert calculations
Top 7 Mutual Funds With Highest Returns in 10 Years: Rs 10 lakh investment in No 1 scheme has turned into Rs 79,46,160 in 10 years
SIP vs PPF: How much corpus you can build in 15 years by investing Rs 1.5 lakh per year? Understand through calculations
Retirement Planning: Investment Rs 20 lakh, retirement corpus goal Rs 3.40 crore; know how you can achieve it
03:43 PM IST