Godrej Vestamark LLP was informed by its parent company about the order
The Municipal Corporation of Delhi (MCD) has imposed a penalty of Rs 5 lakh on a subsidiary of Godrej Properties for not taking environmental safety precautions in construction works at its project site in Delhi.
In a regulatory filing on Saturday, Godrej Properties informed its subsidiary Godrej Vestamark LLP on October 16 that it received an order in this regard under the Delhi Municipal Corporation Act 1957.
The violation made by the subsidiary is "non-adherence to the directions contained in the order of National Green Tribunal (NGT) dated April 10, 2015, as well as the Ministry of Environment and Forests Guidelines, 2010 in relation to precautions required to be taken while carrying on construction at its project in New Delhi", the filing said.
Godrej Properties is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region, Delhi-NCR, Pune and Bengaluru.
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