Escrow Account
KEIL is maintaining an Escrow account jointly with Kerala State Pollution Control Board, and State Bank of India, Ambalamedu Branch as Escrow operating agent. Account No: 38988517478.
The Escrow account is maintained as per the directive of Ministry of Environment, Forest & Climate Change (Order No: 23-1/2008-HSMD dated 16-04-2009). 5.0% of the annual turnover from landfillable waste is deposited in the Escrow account to take care of Post Closure monitoring and also to take care of any unforeseen exigencies with approval from Kerala State Pollution Control Board.
An amount of Rs. Rs.389.30 lakhs was deposited in the Escrow account for the period from 1st April 2009 to 31st March 2022 and an amount of Rs.47.10 lakhs is deposited in this account on 03/07/2023 in respect of 5% of annual turnover of landfillable waste for the FY 2022-23. The total amount deposited in the Escrow account is Rs.436.40 lakhs for the period up to 31/03/2023.