The Meghalaya Cabinet has approved the closure and winding up of Meghalaya Cherra Cement Limited (MCCL), with pending liabilities of approximately Rs 24.43 crore set to be written off to facilitate the process.
Chief Minister Conrad K. Sangma announced the decision, stating that the dues owed to employees of the state-owned company had been settled in keeping with the government’s commitment.
As part of the winding-up process, the Cabinet approved the waiver of approximately Rs 8.9 crore in outstanding sales tax dues and Rs 15.53 crore in royalty liabilities.
Sangma explained that since MCCL is a government-owned company, settling the pending liabilities would otherwise involve financial transfers between the state government and its departments.
The decision is expected to simplify the winding-up process and help complete the formal closure of the company without imposing any additional financial burden on the state government.
The Cabinet’s approval marks a significant step towards completing the closure of Meghalaya Cherra Cement Limited. With employee dues settled and outstanding tax and royalty liabilities addressed through the approved write-off, the government aims to facilitate the company’s formal winding up.