JB Chemicals & Pharmaceuticals today said it will file a review petition before the National Green Tribunal (NGT) after the Supreme Court stayed the direction issued by the tribunal for closure of its bulk drugs plant in Gujarat.
The Supreme Court has also directed the drug firm to file a review petition before the green body.
In a regulatory filing, JB Chemicals & Pharmaceuticals said the Supreme Court has by order passed on January 29 stayed the order issued by the NGT for closure of company's bulk drugs plant at Panoli, Gujarat, for four weeks and directed the company to file review petition before the NGT.
"The company is now in the process of filing a review petition before the NGT," it added.
Elaborating on the order, the company said the SC order also provides that NGT will extend the period of stay on merits of contentions till disposal of the review petition.
The NGT (West Zone) via order dated January 8, 2016 termed the environmental clearance given to the plant by the Centre as "illegal" and "directed the Government of India to revoke within one month the environment clearance granted to the company's plant".
Consequently, the NGT had also directed the company to close down the activities at the said plant within four weeks.
The NGT order had come after the Paryavartan Suraksha Samiti, Vododara and Peoples Union for Civil Liberties, Ankleshwar challenged the environment clearance to the manufacturing facility.
During 2014-15, total sales of bulk drugs manufactured at the said plant amounted to Rs 104 crore. Besides, the company also uses active pharmaceutical ingredients (APIs) produced at this plant for captive consumption.
JB Chemicals & Pharmaceuticals stock was trading at Rs 254, down 3.35 per cent, on the BSE.
