Cohance Lifesciences has received a closure order from the Telangana Pollution Control Board for its manufacturing site in Suryapet. This action follows an industrial accident resulting in the death of an employee. The company is initiating corrective measures and expects to appeal the order soon. The financial and operational impact is currently being assessed.
Manufacturing Site Closure Ordered
Cohance Lifesciences Limited has been directed by the Telangana Pollution Control Board (TGPCB) to immediately suspend all manufacturing activities at its site located in Suryapet, Telangana. This directive was issued via a closure order following an industrial accident that occurred during the manufacturing process.
Employee Fatality and Accident Details
The accident led to an employee on duty being exposed to hazardous conditions. Despite receiving immediate emergency medical assistance and subsequent transfer to a specialized hospital in Hyderabad for advanced treatment, the employee tragically succumbed to his injuries. The company expressed its commitment to providing the best possible care during the employee’s treatment.
Company’s Response and Next Steps
In response to the closure order and the observations detailed by the TGPCB, Cohance Lifesciences has initiated corrective and preventive measures. The company intends to promptly submit requisite representations and compliances to the TBPCB with the aim of seeking the cancellation of the closure directions at the earliest opportunity. This would allow the Suryapet facility to resume operations.
Financial and Operational Impact
The company is currently assessing the operational and financial implications of this closure. At this stage, the full extent of the impact on the business cannot be quantified with certainty. Cohance Lifesciences has assured that it will keep the stock exchanges informed of any material developments regarding this situation.
Source: BSE
