Cairn Energy

French court backing: Cairn Energy gets order to attach India assets

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

If the company manages to attach the Central Paris properties, it will be the first asset freeze application to succeed among many filed by Cairn in different countries to enforce the arbitration award.

Cairn Energy seizes Indian govt properties in France as $1.7 billion tax dispute escalates

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.

Cairn case: PSBs not asked to withdraw funds from foreign currency accounts, says govt

After Air India, Cairn to target more state cos to recover money due from govt

Cairn has identified USD 70 billion of Indian assets overseas for potential seizure to collect award, which now totals to USD 1.72 billion after including interest and penalty.

Since then, Cairn has been pressing India to pay while the government has looked for possible solutions within the existing framework.

Cairn case: PSBs not asked to withdraw funds from foreign currency accounts, says govt

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

Cairn case: PSBs not asked to withdraw funds from foreign currency accounts, says govt

Can’t risk a mark of Cairn: Foreign investors look for fair & equitable business environment, not regulatory uncertainty

As Cairn moves to attach AI assets, Centre must stop digging in its heels on retro tax, or risk losing investor confidence

Moreover, the IT department was found to be aware of the transactions at least by 2010, given it assessed the stake sale of Cairn UK Holdings in Cairn India to Petronas.

India’s offer to Cairn in $1.4-bn arbitration battle: ‘Pay half the dues and move on’

Govt feels it is going to be tough for the company to enforce the arbitral award

In its December 2020 ruling, the Permanent Court of Arbitration at The Hague invalidated India’s $2.74-billion 2015 tax claim on Cairn Energy.

Just berating babus is a waste of time

Bureaucrats may stymie what the ministers want, but the only way to fix that is to have sweeping reforms

Just berating babus is a waste of time

Retro tax: Amid stand-off, Cairn Energy holds ‘constructive’ meeting with Union finance secretary

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.

cairn energy

Cairn CEO meets finance secretary over arbitration ruling, says meeting constructive

Cairn Energy had in 2011, sold Cairn India to mining billionaire Anil Agarwal's Vedanta Group, barring a minor stake of 9.8 per cent.

Risking seizure of assets is a bad idea

Govt chance of winning Vodafone/Cairn appeals poor & Cairn has already made the first move to attach India’s assets

cairn energy case against india

Cairn offers to pay 15% of principal amount pending tax case

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

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In need of cash, govt chases $117 bn in elusive back taxes

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

Liquid funds or savings accounts? Where to park your money for better returns

Cairn India has indemnity from Cairn Energy on Rs 20,000 tax

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.

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Vodafone retro tax case: Here’s some bad news for a govt trying to reassure investors

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,

Vodafone India

Rs 29,000 cr case: Cairn Energy asks Narendra Modi govt to walk the talk on retro tax

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

Cairn Energy, Cairn Energy india, Cairn Energy retro tax, Cairn Energy tax, retrospective tax, retro tax, British oil explorer, Narendra Modi, Narendra Modi retro tax, Narendra Modi government, modi news, foreign investment in india

Vodafone, Cairn Energy retro tax case handling is sheer coercion Mr Jaitley

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

Vodafone, Vodafone india, Vodafone tax case, Vodafone retro tax case, Cairn Energy, Cairn Energy retro tax case, retrospective tax amendment, Arun Jaitley

Income Tax Dept slaps Rs 29,000 cr tax demand notice on Cairn Energy

The Income Tax Department has slapped on UK's Cairn Energy plc a tax demand notice of over Rs 29,000 crore, including Rs 18,800 crore in back dated interest.

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Will seek $600 mn from India in damages: Cairn Energy

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

Cairn india

British MP nudges Arun Jaitley on Cairn Energy tax dispute

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

ARUN JAITLEy

Cairn wants India to appoint arbitrator by Nov 11

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

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ONGC-Cairn jointly utilise gas facilities

While PSU alleges gas theft by Reliance Industries in KG basin

Govt to join Cairn tax arbitration; to appoint arbitrator soon

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

cairn india, cairn, cairn arbitration, Cairn Energy, India UK Bilateral Investment, cairn news

Cairn set to go to the International Court of Justice against India

Cairn Energy is set to approach the International Court of Justice (ICJ) on September 11, asking it to appoint an arbitrator on behalf of the Indian government in its $1.6-billion...

vedanta

Cairn Energy set to go to ICJ against India

Cairn Energy is set to approach the International Court of Justice (ICJ) on September 11, asking it to appoint an arbitrator on behalf of the Indian government in its $1.6 bn...

cairn india

Aviva Investors opposes Vedanta takeover bid for Cairn India

Aviva's UK equity team has a 4.3 per cent stake in Cairn Energy, the original owner of Cairn India and still its largest minority shareholder.

Cairn india
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