Vedanta Litigation – From The Frying Pan Into The Fire.
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Vedanta Resources Ltd has finally agreed to suspend legal action to reclaim KCM. This agreement comes pending talks to settle the dispute.KCM was placed under provisional liquidation after the previous government alleged that the company was evading tax obligations and giving false information regarding its expansion projects.
The case has been in the courts for a while preventing any possible investment opportunities from interested parties as well as stalling of any progressive undertakings to revive the state of the mines.