Is the SC order a temporary respite for Sterlite?
Supreme Court reversed Madras High Court's closure order on Sterlite's Tuticorin smelter, thereby giving a short term relief to Sterlite Industries. But experts believe that recent issues plaguing the company have to be addressed before confidence returns among investors. The court's judgement would, however, have no bearing on Tamil Nadu Pollution Control Board's (TNPCB) direction on March 30 to shut down the plant in the wake of alleged gas leak, as the apex court's verdict is confined to the high court's 2010 order.
