Even before the arbitral award was pronounced, India had seized and sold shares of Cairn in its erstwhile India unit, confiscated dividend due and withheld tax refunds (totalling Rs 7,600 crore) to recover the taxes it felt w
The oil producer and the Indian government have been at loggerheads for months after an arbitration tribunal ruled in favour of Cairn and asked the Indian government to pay $1.7 billion over a tax dispute.
The government also stated that the CEO and other representatives of Cairn have approached the government for discussions to resolve the matter. Constructive discussions have been held and the government remains open for an a
On November 18, the GoI told the Delhi High Court it is yet to take a call on whether to challenge the Vodafone award. It was then presumed that the government was waiting for the Cairn verdict, which was due.
Hit hard by the retrospective tax, Cairn Energy plc of UK has offered to pay 15 per cent of the Rs 10,247 crore principal amount in return for government lifting freeze on the 9.8 per cent shares it holds in its erstwhile sub
Finance ministry is asking for regular progress reports from tax collectors and has set a date for an amnesty to pay off arrears on undeclared domestic assets, as the government intensifies efforts to meet its ambitious defic
Cairn India has full indemnity from its former promoter Cairn Energy of UK against levy of any tax for past deeds, including the two-year old Rs 20,495 crore retrospective tax demand, its new owner Anil Agarwal has said.
Though the government’s decision to not repeal the retrospective tax when it came to power two years ago was always unfortunate, prime minister Narendra Modi and finance minister Arun Jaitley came up with a solution which,
Weeks after being slapped with a Rs 29,000 crore 'retrospective tax demand', British oil explorer Cairn Energy today said international investors want the Narendra Modi government to walk the talk on resolving retrospective t
Vodafone, Cairn Energy retro tax case: Not being able to scrap the 2012 retrospective tax amendment is one of the major failures of the NDA government. The option to pay tax minus the interest and penalty is no solution — i
British oil firm Cairn Energy said it will seek from India over $600 million in damages for loss it suffered in value of its holding from a Rs 10,247-crore tax demand raised on its eight-year-old internal business recognition
Ian Murray, Member of Parliament for Edinburgh South and Shadow Secretary of State for Scotland, wrote to Arun Jaitley saying Cairn has lost jobs and suffered material financial loss as a direct result of action by the Govern
Cairn Energy of UK is willing to suspend its appeal to International Court of Justice seeking appointment of an arbitrator on behalf of Government of India to resolve the Rs 10,247 crore tax dispute, provided an arbitral pane
Cairn Energy, which had in 2011 sold majority stake in its Indian unit to mining group Vedanta for USD 8.67 billion, still holds 9.8 per cent stake in Cairn India. But it has been barred by the I-T Department from selling thi