Meghalaya cabinet approves closure of Cherra Cement, writes off Rs 24.43 crore in dues

The Meghalaya Cabinet has approved the closure and winding up of Meghalaya Cherra Cement Limited (MCCL), with pending 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 line 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 dues.

Sangma said that since MCCL is a government-owned company, the pending liabilities would otherwise involve transfers between the state government and its departments.

The decision is expected to simplify the winding-up process and facilitate the closure of the company without imposing any additional financial burden on the state government.

The Cabinet’s approval marks a step towards completing the formal closure of Meghalaya Cherra Cement Limited, with employee dues settled and the outstanding tax and royalty liabilities addressed through the approved write-off.