Cpt To Move Court To Seek Security From Owner Of Sunken Korean

Image
Mrinal Biswas BSCAL
Last Updated : Jul 17 1997 | 12:00 AM IST

Calcutta Port Trust (CPT) will move a special leave petition before the Supreme Court, seeking security deposit from the owner of sunken Korean vessel M V Green Opal, which has blocked a portion of the Hooghly river channel near Birlapur, 20 miles down the Calcutta Dock System, where the accident occurred.

Earlier, a division bench of the Calcutta High Court did not pass any order on the issue of security deposits from the owner of the vessel, Dooyang Lines Ltd of Korea.

The owner and master of the vessel left for home in Korea after the division bench passed an order allowing them to leave the city. They were earlier prevented from leaving the city by the trial court until the disposal of the case, resulting in their forced stay here for about three weeks.

CPT has taken a serious view of the situation following the shipwreck for which the 126-mile navigable river channel has shrunk to a considerable degree at the site where the Korean ship is still stuck.

The CPT trustees have asked chairman H P Roy to take proper steps to remove the sunken vessel on an emergency footing.

CPT is believed to have been assured by UK Mutual Steamship Assurance Association, which is the insurer of M V Green Opal, that it will take steps to remove the shipwreck. P&I Club of the UK will assist the insurance company in the task. They are prepared to give an undertaking to CPT in this respect.

But CPT trustees have instructed the chairman that these organisations must be told to clear up the river channel by removing the wreck within a specific time-frame. This has assumed importance since the shipwreck occurred on June 19. In accepting the undertaking from these two UK organisations, which look after the interests the Korean shipping company and its managing director K Y Chu, proper legal safeguards will have to be taken and financial interests of CPT will have to be protected.

The cost of removing the Korean vessel is estimated at Rs 10-12 crore.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 17 1997 | 12:00 AM IST

Next Story