Tamil Nadu Newsprint And Papers (TNPL) has informed that it has received a notification from Government of Tamilnadu regarding action to be initiated relating to coal related transactions in 2013. This is based on the ongoing larger investigations by the Central Government agencies across the country. The transactions involving TNPL is only 6.60 % out of the total transactions involving Central large public sector, State Discoms and other companies in the country. Only 5 out of 186 consignments are related to the company’s procurement of coal during the said period. Based on the preliminary inquiries the Company has suspended the officials of the relevant areas till the inquiry proceedings are completed and concluded.This demonstrates the commitment of the Company towards transparency and higher standards of Corporate Governance. TNPL is a professionally managed company promoted by Government of Tamilnadu following strict adherence to the Board approved norms and Standard Operating Procedures while conducting the Business transactions. Further, the company has confirmed that the routine activities across all manufacturing units are being carried out smoothly as per well-established systems and procedures over the decades of operation.
The above information is a part of company’s filings submitted to BSE.
| Company Name | CMP |
|---|---|
| JK Paper | 375.20 |
| TN Newsprints | 140.05 |
| West Coast Paper | 492.00 |
| Emami Paper Mills | 75.24 |
| Seshasayee Paper | 270.95 |
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