Bank Guarantee Forfeited by MPCB for Prism Johnson Ltd Amid Alleged Non-Compliance
Prism Johnson Ltd has confirmed that a bank guarantee submitted to the Maharashtra State Pollution Control Board (MPCB) was directed to be forfeited by Kotak Mahindra Bank Limited. The action relates to alleged non-compliance of consent conditions observed during an inspection at the company's Runwal Thane captive RMC Plant.The forfeiture stems from a communication received by the company from Kotak Mahindra Bank Limited on July 17, 2026. This direction stated that the MPCB had ordered the bank to forfeit the guarantee provided by Prism Johnson Ltd. for compliance with consent conditions.
According to details provided regarding the matter, the forfeited bank guarantee amounts to ₹ 10 Lakhs.
The company noted that while the action was taken by the MPCB citing alleged non-compliances observed during a site visit, Prism Johnson Ltd has not received any communication from the Maharashtra State Pollution Control Board regarding these specific alleged non-compliance of consent conditions.
Regarding the financial and operational impact, the immediate consequence is limited to the encashment value of the ₹ 10 Lakh bank guarantee. The company stated that there is no material impact on its business operations or any other activities following the invocation or forfeiture of the Bank Guarantee.
PRSMJOHNSN Stock Price Movement
On Friday, shares of Prism Johnson Limited shed value, dipping 1.14% from the previous close and settling at ₹109.85. This decline pushed the stock to a 52-week low, as it was traded 124,866 times that day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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