Hebei Lansheng Biotech Co., Ltd. ShangHai Yuelian Biotech Co., Ltd.

Excel Crop Care Ltd updates on Endosulfan banqrcode

Feb. 20, 2017

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Feb. 20, 2017
Excel Crop Care Ltd has announced with reference to the Public Interest Litigation (PIL) filed in April, 2011, before the Hon'ble Supreme Court by the Democratic Youth Federation of India seeking a ban on Endosulfan citing health concerns.

On 13th May, 2011, the Hon'ble Supreme Court passed an ad-interim Order banning production, sale and use of Endosulfan. Accordingly, the Company stopped production and sale of Endosulfan.

By its Order dated 10th January, 2017, the Hon'ble Supreme Court has disposed off the PIL by directing the State Governments to release the undisbursed amount of compensation to the affected persons within three months. The said Order also states that "Needless to mention, that it shall be open to the State Governments to recover the aforesaid compensation either from the concerned industry or from the Government of India, in case it is open to the State Governments to make such recovery, in consonance with law".

The Company has no stocks of Endosulfan.

In the opinion of the Company, the Order of the Hon'ble Supreme Court is not likely to have any impact on the Company or its financials.

Shares of EXCEL CROP CARE LTD. was last trading in BSE at Rs.1741.6 as compared to the previous close of Rs. 1758.6. The total number of shares traded during the day was 10 in over 8 trades.

The stock hit an intraday high of Rs. 1759.95 and intraday low of 1725.5. The net turnover during the day was Rs. 17404.
Source: Equity Bulls


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