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Indian Oil Corp (IOC) may drag the Odisha government to court for reneging on its promise to give tax concessions to its Rs 34,555 crore Paradip refinery in the state.
Less than two months after serving the first show-cause notice, the Odisha government on 22nd February wrote to its single-biggest investor saying it is withdrawing the promised 11-year deferment on payment of sales tax on Paradip refinery products sold in the state.
"We are trying to explain to them that we came to Odisha only based on their commitment to give certain tax incentives. Now, they cannot go back on them. If we don't succeed the only option left for such will be to take it up legally," a top company official said.