Lanco Rebuffs Griffin Liquidation Concern With Vow to Keep Unit
This article is for subscribers only.
Lanco Infratech Ltd., an Indian power company, expects to avoid closing its Australian mining business even as the unit faces liquidation proceedings for unpaid tax.
“No winding-up order has been issued” against Griffin Coal Mining, A. Narasimhan, a spokesman for Lanco, said in an e-mail. “We are confident that there is no basis for winding up and that the matter with the Australian Taxation Office will be resolved as soon as possible.”