Initiates an initial insurance claim of Rs 10.92 crore
Supreme Petrochem has lodged an initial claim of Rs. 10.92 crore with the Insurance Company following the disruption in plant operations due to floods in Chennai. The Insurance Company appointed surveyors work is in progress. Since the Company has adequate insurance cover on reinstatement cost basis for fixed assets and on cost basis for raw materials and stores and on selling price basis for finished goods, the management do not expect any financial loss on account of the same. The Company is also insured for "Loss of Profit" during the period the plant operations were shut.Powered by Capital Market - Live News