- Plantation companies in trouble again

  • 24/02/1998

  • Indian Express (New Delhi)

After coming in for heavy criticism for financial irregularities, teak plantation companies are under fire from forestry experts who have dismissed their claims as being grossly exaggerated. A report just prepared by the Ministry of Environment and Forests(MEF), claims that most of the trees, given their present stage of development, will yield only between 2 and 15 per cent of the timber that the companies had projected. The Ministry has written to the Securities and Exchange Board of India(SEBI) on its findings. Plantation companies have raised nearly Rs 10,000 crore from investors all over the the country.