Cairn India

SAT directs Sebi to conduct enquiry into Cairn UK Holdings dividend case

The appellate tribunal's order, dated July 5, came after an appeal was filed by Cairn UK Holdings Ltd against the Sebi order

India refunds Rs 7,900 cr to Cairn to settle retro tax dispute

The government initially refused to honour the award but in August 2021 brought a law to scrap all retrospective tax demands and refund money collected but without any interest or penalty

'Completed all steps of retro tax repeal law, entitled to Rs 8k-cr refund'

'Company has concluded all necessary steps under the rules of the India Taxation (Amendment) Act 2021 required for payment by Govt of India of a tax refund of approximately Rs 7,900 cr,' says Cairn

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

Britain's Cairn Energy to now be entitled for about Rs 7,900 crore refund of taxes that were collected to enforce a retrospective tax demand

Retrospective tax: Cairn drops lawsuits in US, UK against Indian govt

Last month, Cairn said it has agreed to drop litigations to seize Indian properties in several countries as it has accepted India's offer to settle the tax dispute

India has proved it is second to none in adopting technology, says PM Modi

PM Narendra Modi said that India has proved to the world that it is second to none when it comes to adopting technology or innovating around it.

India to offer indemnity to Air India bidder over Cairn claim: Report

Air India, unprofitable since a 2007 merger with state-owned domestic operator Indian Airlines Ltd., has total debt of Rs 60,000 crore and loses Rs 20 crore every day

$1.2-bn arbitral award: US court sets timelines for Cairn-India lawsuit

A federal court in Washington has set timelines for responses to be filed to an Indian government petition seeking dismissal of a suit by Britain's Cairn Energy

Scrapping retrospective tax may not be enough to repair India's reputation

Political executive will need to strive for a fairer playing field, writes Andy Mukherjee.

Investors breathe easy, no more retrospective taxation

The fact that the govt decided to come up with an amendment speaks highly of its commitment towards the international investor community

Removal of retro tax will send positive signal to foreign investors

This change in retro tax law will reflect well on the govt's efforts to improve the ease of doing business environment

Vodafone arbitration case: Singapore court to hear India's appeal in Sept

Arbitration court in September rejected India's demand for Rs 22,100 crore in back taxes and penalties from company.

After Air India, Cairn to target more Indian state-owned firms for recovery

Cairn Energy PLC plans to target assets of state-owned firms and banks as it looks to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes

Share buyback case: SAT stays Sebi's penalties on Cairn India, others

The Securities Appellant Tribunal (SAT) has stayed the penalties imposed by markets regulator Sebi on Cairn India and others for making a misleading announcement regarding buyback of shares in 2014. While staying the penalties, the tribunal also directed Cairn India, which was merged with Vedanta Limited in 2017, and others involved in the case to deposit Rs 2.5 crore with Sebi within three weeks. If the amount is deposited, no further recovery will be made from them during the pendency of the appeal, the tribunal said in an order dated June 22. In May, the Securities and Exchange Board of India (Sebi) imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding the buyback of shares in 2014. Further, the regulator imposed a fine of Rs 15 lakh each on P Elango, who was the CEO and director of Cairn India, along with Aman Mehta and Neerja Sharma, who were directors of the company at the time of violation. According to the Sebi order, the buyback

Second Covid-19 wave: Cairn Oil and Gas seeks force majeure extension

Globally, oil and gas firms had availed of relaxations in exploration contracts to deal with the disruption.

India challenges $1.2 bn Cairn award, says never agreed on tax arbitration

India had seized and sold shares of Cairn in its erstwhile India unit, confiscated dividend due and withheld tax refunds to recover the tax demand it had levied two years after passing a law in 2012

Centre trashes reports of forex withdrawal from PSBs to dodge Cairn seizure

The govt says it is vigorously defending its case in the dispute but remains open to an amicable solution within the country's legal framework

Vedanta says evaluating Sebi order imposing fine on its unit, Cairn India

Vedanta Ltd on Friday said it is evaluating a Sebi order imposing a fine of Rs 5.25 crore on its erstwhile unit, Cairn India

Sebi imposes Rs 5.25 cr fine on Cairn India in share buyback case

Markets regulator Sebi on Wednesday imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding the buyback of shares in 2014.

Cairn dispute: Govt sees no threat to privatisation of Air India

Once Air India is sold to private buyer, Cairn's claim will be defeated: Official