Wednesday, July 18, 2012

Essar Oil to pay Rs 1,000 crore to Gujarat Government

The Supreme Court has ordered Essar Oil to pay Rs 1,000 crore to Gujarat Government by July 30 to avoid the Government’s move to seize the company’s bank accounts. Earlier, the Gujarat Government had decided to seize the company’s bank accounts to recover the sales tax liabilities of around Rs 6,300 crore as well as penalty and interest of Rs 2,000 crore.

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