LMS has handed over the
land to the SLPA on 10th September 2008 and has taken all possible steps
to remove stocks of oil and lubricants by 12th September 2008 in terms of
the orders of Court.
However, due to technical reasons the company was unable to remove oil
stocks to the value of approximately USD 184,000 (approximately Rupees
Twenty Million), remaining on the land; and in terms of the Court
direction the ownership of which will now accrue to the SLPA. Accordingly,
approximately Rs. 20,000,000 (Rupees Twenty Million) loss, consolidated,
will add to the financial impacts quantified and announced to date.
Oil stocks to the value of USD 416,000 (approximately Rupees Forty Five
Million) remainin the pipelines, located outside the premises.
Copyright©Upali Newspapers Limited.
Hosted by
