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September 2010

Double standards Case :

By Raman Jokhakar
Tarunkumar G. Singhal
Chartered Accountants
Reading Time 1 mins
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New Page 1

72 Double standards
Case :

US :
Asbestos-related suits

India : Bhopal Gas
tragedy

 

Damage :
US : 700,000 people affected

India : 20,000
dead, 570,000 injured with possible generational impacts

 

Caused by :
US : Asbestos fibres

India : Methyl
Isocyante gas released from the factory

Liability :
US : Carbide and Amchem cases being fought by Dow

India : Dow
refuses to take liability of Carbide

 

Payments :
US : $ 487mn litigation costs, $ 1.5bn resolution costs & $ 839mn estimated
future liability

India : $ 470mn
paid by Carbide in 1989. Refuses any further payment.

 

(Source : The Times of India, 3-7-2010)

 

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