CORRESPONDENT
SHILLONG: The Meghalaya Cabinet has approved the closure and winding up of Meghalaya Cherra Cement Limited (MCCL), along with the write-off of its outstanding liabilities to facilitate the process. Chief Minister Conrad K. Sangma said this while addressing the media after chairing the Cabinet meeting.
To complete the winding-up process, the Cabinet approved the write-off of pending liabilities, including approximately Rs 8.9 crore in sales tax dues and Rs 15.53 crore in royalty dues. Sangma said that as MCCL was a government-owned company, settling the outstanding liabilities would otherwise involve financial transfers between the company and various state government departments.
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