Tata Power's statement has come after reports that World Bank's probe body CAO has raised concerns over IFC's insufficient action to address environmental norms violation by Coastal Gujarat Power Ltd (CGPL).
The Tata Power arm CGPL runs the ultra mega power project at Mundra.
"As the Mundra plant is fully compliant with all environmental and social norms and same having been endorsed by the Ministry of Environment and Forest, Gujarat Pollution Control Board and other statutory and independent bodies, it continues to remain neighbours' choice," Tata Power said in a BSE filing today.
Elaborating further Tata Power said, "The World Bank Compliance Advisor Ombudsman (CAO) reflects the observations on the internal processes of the IFC and, thus, it will only be appropriate for the IFC to respond in details ... We are clarifying that last time around too on the same issue, the CAO's statement was not upheld by the competent authority at the World Bank."
The CAO, in its second monitoring report in relation to audit of CGPL following complaint by fishing communities, said there was a need for rapid, participatory and remedial approach to assess and address project impacts raised by the complainants.