MoEFCC revokes environmental clearance for Godrej Eternia Chandigarh project
GODREJPROP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Godrej Properties has received a letter from MoEFCC revoking the Environmental Clearance for its commercial building Godrej Eternia in Chandigarh. The ministry alleges the project is within 10 km of Sukhna Wildlife Sanctuary, requiring NBWL clearance. The company denies this, stating the project is 6.6 km from the sanctuary, well outside the notified ESZ limit of 2.75 km. The company has appealed to NGT, calling the revocation legally unsustainable. The order comes ten years after the project was completed with all approvals.
Negative sentiment from regulatory uncertainty. Financial impact unclear since matter is sub judice and company is confident of winning the appeal.