Shillong, October 13: The Meghalaya Cabinet has approved the closure and winding up of Mawmluh Cherra Cement Limited (MCCL), paving the way for the settlement of the government-owned company’s outstanding liabilities and completion of the winding-up process.
Chief Minister Conrad K. Sangma, while addressing the media after chairing the Cabinet meeting, said the Cabinet had also approved the write-off of MCCL’s pending liabilities to facilitate its closure. These include approximately ₹8.9 crore in sales tax dues and ₹15.53 crore in royalty dues.
The Chief Minister explained that since MCCL is a government-owned company, the outstanding liabilities would otherwise involve financial transactions between the company and various state government departments.
The decision to write off the dues is expected to simplify the winding-up process and facilitate the formal closure of the company, avoiding unnecessary financial transfers between government entities.
The Cabinet’s approval marks a significant step towards completing the closure of MCCL and resolving its outstanding liabilities.