Essar files writ over Indian tax repayments
INDIA-FOCUSED energy company Essar Energy yesterday filed a writ in the Gujarat high court to seek more information on how it should repay taxes owed.
In January the company was told it could not defer the repayment of sales tax the Indian government claimed it was owed.
Essar unsuccessfully appealed to the country’s supreme court.
Its oil subsidiary, Essar Oil, is now demanding details of its liabilities and a schedule of payments. It also wants to establish how much interest it owes.
The legal row centred on the company’s new Vadinar refinery which, because it was completed later than stated, was not given tax breaks.
Essar had argued that a cyclone had hit the operation, which it said should have been taken into account by the Indian authorities.
The company has already said that the payments will not affect its trading figures as they have already been factored in.