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Operations & FootprintRegulatory & Legal 19 Oct 2026

Maharashtra pollution board forfeits bank guarantee of Garware Hi-Tech Films

The Maharashtra Pollution Control Board has forfeited an INR 25 lakh (USD 26,000) bank guarantee furnished by Garware Hi-Tech Films, citing alleged non-compliance with consent conditions found during a site hearing. The company says it had completed the required compliance steps and told the board before the forfeiture, and reports no material impact on operations.

Why this mattersThe financial exposure is limited to INR 25 lakh, but the forfeiture puts Garware's consent compliance in Maharashtra on the regulator's record.

  • MPCB forfeited an INR 25 lakh (USD 26,000) bank guarantee from Garware Hi-Tech Films.
  • The company received the notice on 21 October 2026 in a letter dated 19 October 2026.
  • MPCB cited alleged non-compliance with consent conditions found at a site hearing.
  • Garware says it had already completed the compliance steps and informed MPCB before the forfeiture.
  • The company says the financial impact is limited to the guarantee's encashment value, with no material effect on operations.
  • The disclosure was made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements.
Garware Hi-Tech Films
Sources scanx.trade
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-10-25 · Edited before publication: The conversion was given more precisely than the INR 25 lakh source amount; rounded to USD 26,000. Both sides of the dispute are reported.