OREANDA-NEWS. April 05, 2012. Essar Oil has been informed that the Supreme Court of India has disallowed the company’s review petition in relation to deferred sales tax. This order has no new impact on the

business.

The review petition by Essar Oil, seeking a review of the Supreme Courts decision on 17th January 2012.

As already communicated earlier:

Essar Oil has already recognised this liability in its quarterly accounts for the quarter ended Dec 31, 2011,

Essar Oil is in discussion with Gujarat Government for finalising the terms of Repayment of Sales Tax liabilities.

Simultaneously, the company is also in discussions with banks for meeting the repayment obligations as may be finalised with Gujarat Govt.