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Sunday, June 26, 2022

Cairn Energy


Cairn withdraws all lawsuits against India, to get Rs 7,900 crore tax refund

January 05, 2022 4:47 pm

The company on November 26, 2021, initiated proceedings to withdraw lawsuits it had filed in several jurisdictions to enforce an international arbitration award which had overturned the levy of Rs 10,247 crore retrospective taxes and ordered India to refund the money already collected.

Vedanta drops cases against govt to settle retro tax dispute

December 13, 2021 10:13 pm

In a statement, Vedanta said it has used the recently enacted law that scraps all demands levied using a 2012 retrospective tax legislation, to settle the dispute.

'Tight oil': What is shale, and its potential in India

November 23, 2021 1:45 pm

The key difference between shale oil and conventional crude is that the former, also called ‘tight oil’, is found in smaller batches, and deeper than conventional crude deposits.

Explained: How buyback using retro tax refund helps Cairn

November 16, 2021 8:15 am

Cairn is set to receive a refund for taxes collected over an internal rearrangement process, in which Cairn UK transferred shares of Cairn India Holdings to Cairn India in 2006-07.

17 cases on tax table, Centre reaches out to companies for closure

August 12, 2021 7:04 am

These negotiations could be wrapped up within the next month, sources said, adding that any formal statement by either the Government or the companies would be issued only after that.

Govt does well to end retrospective taxation. It must ensure swift closure of pending cases

August 07, 2021 7:17 am

The retrospective amendment inflicted great damage to the country’s reputation for offering an attractive and predictable investment climate. It was long overdue that this amendment was given a burial.

Retrospective tax policy: NDA called it tax terror; took 7 years and adverse verdicts to course-correct

August 11, 2021 1:45 pm

Though delayed, the decision sends out a loud and clear message to global investors that India will course-correct, and bite the bullet even if circumstances around it aren't exactly propitious. The move also sets out India’s stand as a nation on the principle of taxation.

Cairn arbitration: Government confirms French court order against Indian assets

July 27, 2021 5:08 pm

Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Rajya Sabha said the government has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 crore in back taxes on Cairn Energy.

Can India invoke state sovereignty to prevent seizure of assets abroad in Cairn Energy case?

July 18, 2021 11:27 am

State immunity can be invoked to resist the seizure of sovereign assets, but not commercial properties. Besides, fighting the case will consume an enormous amount of resources and attract bad press

Unease of business

July 10, 2021 8:48 am

Government should respect arbitration award in Cairn case. Not doing so sends wrong message to investor community.