Cals Refineries

Cals Refineries Limited is a public company domiciled in India, which was incorporated with the plan to set up a crude oil petroleum refinery. Its core philosophy is to maintain transparency and accountability in all operations, aiming to enhance long-term value for its stakeholders. The company also believes in fulfilling its responsibilities towards the society and environment where it operates, aiming for responsible growth. Currently, the company has no business operations, as its financial situation is grim due to a lack of funding and numerous litigations. Regulatory sanctions imposed by SEBI have severely impacted the company's ability to raise capital, which has stalled the project's implementation. The proceeds of its Global Depository Receipt issue were fully utilized to pay capital advances and other corporate expenses during the construction period.;