New Delhi, 17 July 2012

Essar Oil Ltd today told the Supreme Court that it has offered to pay to Gujarat government the sales tax liability of Rs 6,300 crore in installments, the first of which will be deposited by July 30.

The submission in this regard was made by the company before a bench comprising justices A K Patnaik and Madan B Lokur which said once the first installment of Rs 1000 crore is paid, coercive action already taken by Gujarat government will be stayed.

Senior advocate Mukul Rohatgi and Mahesh Agarwal, appearing for Essar Oil, also raised the issue of waiving the interest on the amount.

However, the bench said any other issue will be considered on the next date of hearing on July 31.

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