ICICI Securities: Plywood Industry Update - Review Application Of NGT Order Also Dismissed
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ICICI Securities Report
The National Green Tribunal has also rejected the two recently submitted review forms by the Uttar Pradesh government against the NGT order on the matter of setting up of new wood-based industry in UP.
It may be recalled that the tribunal had passed a similar judgment on February 18, 2020 which was then challenged by the state by filing a review application.
The tribunal, in its current order, clarified that the main issue was the actual availability of timber in the state which was never ascertained by the state and that the state was moving forward on the basis of estimates that were not scientific.
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