Solar Industries India has received a notice of termination from Chhattisgarh Mineral Development Corporation (CMDC) for the joint venture agreements (JVA) related to the Shankarpur (Bhatgaon-ll) & Shankarpur (Bhatgaon- II Extension) Coal Blocks. CMDC had entered into JVA with the company on September 12, 2008.
The board of director at its meeting held on August 05, 2013 has taken the note of it. The board has decided to seek a legal opinion to find a way ahead for addressing the above mentioned issue.
Solar Industries India is one of the largest manufacturers and suppliers of Explosives and Explosive Accessories in India covering the entire range of products such as Bulk and Cartridge Explosives, Detonators, Detonating Cords, Pentaerythritol Tetranitrate (“PETN”), and Cast Boosters.
