CPCB Levies Rs 1 Cr, Rs 2 Cr Fines On Indian Oil & Bharat Petroleum
The state-owned Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) have been penalised by the Central Pollution Control Board (CPCB) for neglecting to install pollution control equipment at their petrol stations.
As stated in their separate filings to the stock markets, IOC has been fined Rs 1 crore and BPCL has been fined a larger amount of Rs 2 crore.
The IOC said that the CPCB had ordered them to pay a penalty of Rs 1 crore for not installing Vapour Recovery Systems (VRS) at retail locations in the National Capital Region (NCR). They clarified that the Supreme Court's deadline for installing VRS at petrol stations was missed, which is why they were hit with this consequence.
The company clarified that its operations and other activities remain unaffected by this situation. Nevertheless, the financial consequences are confined to the payment of Rs 1 crore in compensation.
In a separate official communication, BPCL reported that they have been issued a notification under Section 5 of the Environment (Protection) Act, 1986, demanding an environmental compensation of Rs 2 crore to be remitted to the CPCB.
This is due to their failure to install Vapour Recovery Systems within the stipulated timeframes directed by both the Supreme Court and CPCB at their petrol refuelling stations and storage terminals.
