Union Carbide India Limited

[1][2] UCIL was 50.9% owned by Union Carbide and Carbon Corporation (UCC) located in the United States and 49.1% by Indian investors including the Government of India and government-controlled banks.

In 1984, a gas leak occurred at a UCIL facility located in Bhopal, Madhya Pradesh, that was responsible for manufacturing various chemical products, primarily pesticides.

The formation of the pesticides and herbicides that were produced by Union Carbide was from carbaryl which is used as a base chemical in order to react with methyl isocyanate and alpha naphthol.

The proceeds from the UCIL sale (US$90 million) were placed in a trust to fund a hospital in Bhopal to care for victims of the tragedy.

In February 1989, the Supreme Court of India directed UCC and UCIL to pay $470 million to settle all claims arising from the tragedy.