Bid & Tender
IOCL and Odisha Government Settle Tax Dispute on Paradip Oil Refinery

Date : Sep 07, 2017

The Indian Oil Corporation Limited (IOCL) and the Odisha government will soon file a joint petition in the Orissa High Court to inform it about the settlement of the dispute between the two over the Paradip refinery, source reported.

 

This was decided at the cabinet meeting chaired by Chief Minister Naveen Patnaik on Tuesday, where the agreement to settle the tax dispute between the IOCL and the Odisha government on the Paradip Oil Refinery project was approved.

 

"Joint petition in consultation with the law department will be filed in the High Court of Orissa by the parties informing the court about the agreement," said AP Padhi, Chief Secretary, while briefing the media after the meeting. The High Court had ordered both parties to resolve their difference through working group chaired by secretary to the ministry of petroleum and natural gas. The working group which met on August 18, 2017 settled the fiscal dispute. Meanwhile, Indian Oil Corporation Limited ended Wednesday’s trade at Rs 428.30 per share, down by Rs 3.50 or 0.81% on the BSE.