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The Supreme Court on Thursday will hear the Centre’s plea on the merger of Sesa Goa and Sterlite on the grounds that the deal was aimed at avoiding taxes. Sesa Sterlite was born in 2012 after Sesa Goa and Sterlite Industries (India) was merged in an all-share transaction. Investors received three Sesa Goa shares for five shares of Sterlite. The transaction, which was announced in February 2012, received the courts’ approval in August 2013. Analysts would be keenly tracking the court proceedings.
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