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Vedanta objects bid to wind up KCM


VEDANTA Resources Limited has asked the Lusaka High Court to dismiss a case in which ZCCM-IH filed a petition to have Konkola Copper Mines (KCM) wound up. ZCCM-IH wants the court to wind up KCM, which is under provisional liquidation, for allegedly engaging in tax evasion, being insolvent and failing to pay outstanding invoices to suppliers and contractors. But Vedanta, which owns 79.4 percent of KCM’s share capital, has urged the court to strike out ZCCM-IH’s petition following recent legal developments surrounding the case. Vedanta company secretary Deepak Kumar contends that the case should be dismissed following a partial final award which CLICK TO READ MORE