Vedanta Resources PLC Cairn India files writ petition against tax demand (4641J)

TIDMVED

RNS Number : 4641J

Vedanta Resources PLC

07 April 2015

7 April 2015

Vedanta Resources plc

Update by Cairn India

Vedanta Resources Plc's subsidiary Cairn India Limited made the below announcement to the Indian Stock Exchanges.

Cairn India Limited

Writ Petition against tax demand

Cairn India Limited has today filed a Writ Petition with the Hon'ble Delhi High Court praying for quashing/setting aside the order passed by the Tax Authorities under Section 201 of the Income Tax Act, 1961.

As informed earlier, Cairn India Limited had received an order from the Income Tax Department for an alleged failure to deduct withholding tax on alleged capital gains arising during 2006-07 in the hands of Cairn UK Holdings Limited (CUHL), our erstwhile parent company, a subsidiary of Cairn Energy Plc.

This was in respect of the transaction of CUHL transferring the shares of Cairn India Holdings Limited (CIHL) to Cairn India Limited as part of internal group reorganisation in 2006-07 to facilitate the IPO of Cairn India Limited.

This is for your information and records.

For further information please contact:

 
 Communications                             Finsbury 
  Roma Balwani                               Daniela Fleischmann 
  President - Group Communications,          Tel: [phone] 
  Sustainability 
  and CSR 
  Tel: [phone] 
  [e-mail] 
                                             Tel: [phone] 
  Investors                                  Tel: [phone] 
  Ashwin Bajaj                               [e-mail] 
  Director - Investor Relations 
 
  Anshu Goel 
  Vice President - Investor Relations 
 
  Radhika Arora 
  Associate General Manager - Investor 
  Relations 
 

About Vedanta Resources plc

Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia, Australia and Sri Lanka. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information, please visit www.vedantaresources.com.

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

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