July 10, 2018 1:13 am
According to Cairn, the I-T Department has continued to enforce its retrospective tax claim against Cairn whilst the Treaty arbitration has been ongoing.
January 19, 2018 12:39 pm
Currently, India is entangled in more than 20 international arbitration cases, and could end up paying billions of dollars in damages if it loses.
June 20, 2017 2:36 am
This follows British oil firm losing in an international arbitration tribunal its challenge against India’s I-T department taking coercive action to recover the tax dues.
June 06, 2016 2:34 pm
The Indian government will fix its 'Statement of Defence' by the fourth quarter of 2016 calendar year and evidential hearing is expected to commence in early 2017.
March 20, 2016 12:07 pm
Sources said the government was of the view that the arbitrations are not just time consuming but were also costing the government a lot besides getting India a bad name.
March 17, 2016 12:04 am
In government’s struggle with disputes arising from UPA’s retrospective tax amendments lies a cautionary tale.
March 16, 2016 1:47 am
According to Cairn, CUHL is pursuing its rights under Indian law to appeal the assessment, both in respect of the basis of taxation and the quantum assessed.
August 19, 2015 1:29 am
Cairn Energy, which in 2011 sold majority stake in Cairn India to mining major Vedanta Resources, had to scale back investments as it was barred by the I-T department from selling its residual 9.8 per cent stake.
August 06, 2015 3:29 pm
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.
March 12, 2015 2:13 am
Cairn Energy has become the latest firm to international invoke investment protection treaty , after Vodafone and Nokia.
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