Page 2 - Cairn India

Cairn arbitration award case: Govt gears up to stop Air India asset seizure

Seeks details from airline to assess impact on privatization

Planes to gas cargoes: Cairn identifies $70-bn Indian assets for seizing

UK's Cairn Energy has identified $70 billion of Indian assets overseas for potential seizure to collect $1.72 billion due from the government

FinMin asks PSU banks to keep high vigil on attempt to seize funds by Cairn

UK's Cairn Energy plc has been awarded $1.2 billion against India

FM Sitharaman says looking at how best to sort out Cairn arbitration

Finance Minister Nirmala Sitharaman on Thursday reiterated that an international arbitration ruling on India's sovereign right to taxation sets the wrong precedent, but said the government is looking at how best it can sort out the issue arising out of New Delhi being ordered to return USD 1.2 billion plus interest and cost to UK's Cairn Energy Plc. The government, which participated in an international arbitration brought by the Scottish firm against being taxed retrospectively, has appealed against The Hague based tribunal's ruling asking the government to return the value of shares expropriated and liquidated, tax refunds withheld and dividend seized to recover a wrongly levied retroactive tax demand. "We don't believe in retrospective taxation," she said at a webinar organised by the Financial Times and The Indian Express. "However, when issues are taken at arbitration... which question India's sovereign right to taxation, we are worried that it sets a wrong precedent." The Indi

Arbitration case: Cairn Energy offers to invest $1.2 bn if India relents

Cairn Energy has offered to invest the entire award money in India, which includes the principal amount of $1.2 billion and interest of $500 million if the government agrees to enforce the award

Losers and gainers in Indian industry as fuel prices climb to record high

Expensive retail fuel can trigger inflation, hurting a fragile economic recovery. Devangshu Datta explains who loses - and gains somewhat - when prices rise

India has till mid-April to appeal against Cairn award on limited grounds

The challenge can only be on limited grounds such as procedure not being followed

India in process of filing appeal against Cairn arbitration award: Report

India is in the process of filing an appeal against an arbitration panel asking it to return USD 1.2 billion to British oil firm Cairn Energy Plc, sources said on Wednesday

Identifying Indian assets for seizure in case of non-payment, says Cairn

The asset could be pledged against recourse or non-recourse financing

India ready to appeal Cairn's $1.2 billion arbitration award this week

Courts in five countries, including the US and UK, have given recognition to the $1.4 billion arbitration award

$1.4 bn Cairn arbitration award: Sitharaman says its her 'duty' to appeal

Even though the FM did not make any direct reference to appealing against the Cairn award, she it's her 'duty' to appeal in cases where the nation's sovereign authority to tax is questioned

Time to move on

Govt should end its retrospective tax disputes

$1.2-bn arbitration award: Cairn, govt discuss long-term capital gains tax

Company will invest in India, but looking for 'acceptable solution' to tax dispute

Arbitration award: Cairn CEO to meet finance secretary on Thursday

Inter-ministerial meeting with officials of key govt departments today to discuss India's strategy

Cairn says engaged with Indian govt on adherence to arbitration award

This comes a month after a tribunal at the Permanent Court of Arbitration in The Hague ordered India to return $1.2 billion to UK's Cairn Energy Plc

Arbitration panel cites PM, minister on retro tax to overturn Cairn demand

The tribunal, in a 582-page judgment on December 21, ordered return of the value of shares that the Income Tax Department sold

Best of BS Opinion: Life after Covid vaccine, tax arbitration case & more

Here's a selection of Business Standard opinion pieces for the day

Cairn Energy wins tax arbitration against India: What the case is all about

India lost the Cairn arbitration case. The case was related to the retrospective tax amendment law and the verdict came late night Tuesday. How did the dispute arise? Listen to the podcast for more

Vedanta: Rising commodity prices, dividend hopes augur well for the stock

Market experts say the stock had seen good gains in the past two months and touched Rs 140 levels in expectation of the delisting going through at Rs 170-plus per share

Retrospective tax: Cairn example shows why FDI in oil & gas is in a mess

The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector