Vikas EcoTech has received an amount of Rs 8.37 crore towards its insurance claim filed with Oriental Insurance Company for the losses incurred on account of fire in its Rajasthan factory viz. Unit II of RIICO Industrial Area, Shahjahanpur, Alwar in the state of Rajasthan.
The Company had filed an insurance claim of Rs 16.31 crore with Oriental. The Company plans to approach the appropriate Appellate authority for an appeal against the reduction of its claim and is expecting a favourable judgment.
Vikas Ecotech is an emerging player in the global arena of high-end specialty chemicals. An integrated, multi-specialty product solutions company, it produces a wide variety of superior quality, eco-friendly additives and rubber-plastic compounds.
