Central Pollution Control Board (CPCB) has fined Indian Oil Corporation (IOC) for not installing pollution control devices at their petrol pumps. The company has been fined Rs 1 crore. The company has received a direction from CPCB to pay compensation of Rs 1 crore for non-installation of Vapour Recovery Systems (VRS) at retail outlets in National Capital Region (NCR).
There is no impact on the operation and other activities of the company. However, the financial implication would be limited to a compensation amount of Rs 1 crore.
Indian Oil Corporation is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
