Epic Update : Essar Energy

Essar Oil  paid gujarat government around Rs 3,500 crore in sales tax payback

Sales tax payback led to cash crunch situation for Essar Oil

Sought relief from SC, but SC dismissed the petition

To continue to payout sales tax as per agreed timetable

Yet to take a decision on raising equity for Essar Oil

To add nearly 1,000 MW in next 12 months

Yet to decide on monetising non-core E&P assets

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