Awaiting Formation Of Oversight Committee For Oxygen Production: Vedanta

: Mining conglomerate on

Thursday said it would await the formation of the oversight committee by the state government as directed by the bench on resuming the operation of its facility in Tamil Nadu to produce oxygen.

The development follows a bench of Justices D Y Chandrachud, L Nageswara Rao and S Ravindra Bhat directing the Tamil Nadu government to form an oversight committee to oversee the functioning of the plant.

In a statement on Thursday, said, "we await the formation of the oversight committee as directed by the bench, and look forward to the restoration of power to the plant and the recommendations of the committee, in order to commence the necessary steps towards critical oxygen production".

On April 26, an all party meeting convened by the Tamil Nadu government resolved to allow Sterlite Industries to produce oxygen at its facility in about 600 km from here, for a four month period amid the raging COVID-19 pandemic, paving the way for the partial reopening of the copper smelter closed in 2018 over pollution concerns.

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

RECENT NEWS

HSBC Swings The Axe At UK Wealth In An AI Push

HSBC is preparing deep job cuts across its UK wealth management arm. It plans to cut about half of its management and sp... Read more

Kraken's Owner Buys A Bank: The Lines Are Blurring

Payward, the parent company of the crypto exchange Kraken, has agreed to buy a European bank. It would be the first digi... Read more

Revoluts Australian Banking Licence Game Changer

Revolut has spent much of its life insisting that it is more than a bank. In Australia, it has now decided that becoming... Read more

The AI Bank Is Coming, But Who Controls The Risk?

Artificial intelligence is no longer something banks discuss as a distant possibility. It is already working behind the ... Read more

ClearBank UK Profit Leads To European Growth

ClearBank has spent much of the past decade building the technology and regulatory infrastructure needed to challenge so... Read more

Bank Of London Continues To Rebuild

ClearBank’s progress shows that modern clearing and banking infrastructure can become a sizeable and profitable busine... Read more