The Meghalaya Cabinet has approved the closure and winding up of Meghalaya Cherra Cement Limited (MCCL), with outstanding liabilities amounting to approximately ₹24.43 crore 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 ₹8.9 crore in sales tax dues and ₹15.53 crore in royalty liabilities.
Sangma said that since MCCL is a government-owned company, the outstanding liabilities would otherwise involve financial transfers between the state government and its departments.
The write-off is expected to simplify the winding-up process and help the government proceed with the formal closure of the company.
The Cabinet’s approval marks a significant step towards completing the closure of Meghalaya Cherra Cement Limited, with employee dues reportedly settled and the outstanding sales tax and royalty liabilities addressed through the approved write-off.