The Maharashtra Pollution Control Board (MPCB) on February 29, 2024, issued a notification regarding Imposing 12% Interest on Non-Submission of Bank Guarantee within the prescribed time limit.
This shall come into force on March 01, 2024
The following has been stated namely: -
•It has decided to impose 12% interest as a penalty on industries, HCEs, Local Bodies, etc., for non-submission of Bank Guarantee within the prescribed time limit imposed by the Board.
•It states that it has imposed the interest with the condition that the 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.
• This circular applies to all pending Bank Guarantees.
•The 12% interest amount to be paid by PP through an online e-payment gateway only.
[Notification No. BO/MPCBAS(T)Circulars/B/240229FTS0122]
