Lanco Infratech Ltd on Thursday stated that no winding-up order has been issued against its subsidiary Griffin and the tax-related issue in Australia will be sorted out soon.
The company said it is actively pursuing its investments plans there. Responding to reports, Lanco said that there is no basis for winding up and that the matter is being dealt with by the Australian tax office.
Griffin, it added, has been engaged and will continue to be engaged with the Australian tax office on this matter. Lanco said it is committed to its Collie operations’ sustainability and growth.
Griffin and Lanco recently resolved a major dispute with Australia’s Perdaman Chemicals.
Lanco further said, “Griffin is actively pursuing expansion, which will further contribute to the growth and development of Western Australia.”