Lords Chloro Alkali Terminates Lease Agreement Over Land, Water Issues; Shares Rise 4%

MT Newswires Live

Nov 04

Lords Chloro Alkali (NSE:LORDSCHLO, BOM:500284) has terminated a lease agreement with Varahalakshmi Infrastructure for a 10.4-acre industrial property in Rewari, Haryana, India, according to a Monday filing on Indian bourses.

Shares of the company rose nearly 4% in Tuesday's trade.

The company cited the lessor's failure to secure change of land use (CLU) approval, inability to obtain required industrial permissions, and poor water quality unfit for Chlorinated Paraffin Wax operations as reasons for the termination.

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