Meghalaya Cabinet Announces Closure of Mawmluh Cherra Cement, Clears Rs 24.43 Crore Liabilities
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Guwahati: The Meghalaya Cabinet has approved the closure and winding up of Meghalaya Mawmluh Cherra Cement Limited (MCCL), with outstanding 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 write-off of approximately Rs 8.9 crore in sales tax dues and Rs 15.53 crore in royalty liabilities. Together, these outstanding amounts total around Rs 24.43 crore.
Sangma explained that since MCCL is a government-owned company, the pending liabilities would otherwise involve financial transfers between the state government and its departments. The decision is expected to streamline the winding-up process and enable the company’s formal closure without placing any additional financial burden on the state government.
With employee dues settled and the outstanding tax and royalty liabilities approved for write-off, the Cabinet’s decision marks a significant step towards completing the formal closure of Meghalaya Cherra Cement Limited.
The move is aimed at resolving the company’s pending financial obligations and facilitating the completion of the winding-up process.