Huhtamaki PPL filed a Writ Petition in the Bombay High Court on November 21, challenging and setting aside the closure direction.
Huhtamaki PPL shares plunged as much as 7.6 percent in morning on Thursday after getting closure directions from Maharashtra Pollution Control Board for its Thane plant in Maharashtra.
The company, on November 20, received closure directions from Maharashtra Pollution Control Board (MPCB) for its manufacturing activities, within 72 hours and take all precautionary measures for safe closure, in relation to its Thane Plant, the flexible packaging and packaging solutions provider said.
According to Maharashtra Pollution Control Board, the company violated Maharashtra Plastic and Thermocol Products (Manufacture, Usage, Sale, Transport, Handling and Storage) Notification dated 23rd March, 2018 and Maharashtra Non-Biodegradable Garbage (Control) Act, 2006.
In response to the allegation, the company has filed a Writ Petition in the Bombay High Court on November 21, challenging and setting aside the closure direction.
At 10:42 hours IST, the stock was quoting at Rs 196.00, down Rs 11.75, or 5.66 percent on the BSE.
