Livemint | By Gireesh Chandra Prasad, New Delhi
PUBLISHED ON SEP 08, 2021 03:09 AM IST
On Tuesday, the company said it is considering entering into statutory undertakings with the government of India under a new law, clearing the way for the release of its assets seized since 2014.
Written by Shankhyaneel Sarkar | Edited by Meenakshi Ray, Hindustan Times, New Delhi
UPDATED ON AUG 09, 2021 08:50 PM IST
- Union finance minister Nirmala Sitharaman while replying to the debate on the bill said that India’s sovereign right to tax will remain ‘intact’ and nothing is being ‘diluted’.
By hindustantimes.com | Written by Poulomi Ghosh
UPDATED ON AUG 05, 2021 06:23 PM IST
The UPA government in 2012 imposed capital gains tax retrospectively on some companies like Cairn and Vodafone.
By Rajeev Jayaswal, Rezaul H Laskar, New Delhi
PUBLISHED ON JUL 08, 2021 11:28 PM IST
India will “vigorously defend” any move of UK’s Cairn Energy Plc to attach Indian assets overseas, the finance ministry said.
By Rajeev Jayaswal, New Delhi
UPDATED ON MAY 23, 2021 11:47 PM IST
Cairn has been taking legal measures to enforce an international arbitration tribunal’s award of $1.2 billion (plus interest and costs) since December last year.
By hindustantimes.com | Edited by Poulomi Ghosh
PUBLISHED ON MAY 16, 2021 06:36 PM IST
Cairn did not pay a single rupee tax anywhere in the world in respect of the impugned transactions, informed sources of the government pointed out.
Reuters | , Mumbai/ New York
PUBLISHED ON MAY 15, 2021 05:18 PM IST
The move ratchets up pressure on India's government to pay the sum of $1.2 billion plus interest and costs that the British firm Cairn was awarded by an arbitration tribunal in December.
PTI | , New Delhi
PUBLISHED ON MAR 29, 2021 07:48 AM IST
The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands, and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government’s ₹10,247 crore demand in back taxes.
By Gireesh Chandra Prasad
PUBLISHED ON FEB 20, 2021 01:33 AM IST
The move signals the government’s resolve to defend its sovereign rights in taxation. The government has, however, kept open the possibility of a resolution within existing Indian laws, the person said.
Livemint | By Gireesh Chandra Prasad, Utpal Bhaskar
PUBLISHED ON FEB 18, 2021 07:45 AM IST
At the meeting, finance secretary Ajay Bhushan Pandey will listen to the company’s proposals even as the government prepares to file the appeal in a Dutch court, three people familiar with the developments said, requesting anonymity.
Reuters | , New Delhi
PUBLISHED ON FEB 16, 2021 07:43 PM IST
In December, an arbitration body awarded the British firm damages of more than $1.2 billion, plus interest and costs.
New Delhi | By Reuters | Posted by Ayshee Bhaduri
PUBLISHED ON DEC 23, 2020 02:58 PM IST
The tribunal ruled unanimously that India had breached its obligations to Cairn under the UK-India Bilateral Investment Treaty and awarded Cairn damages of $1.2 billion plus interest and costs, the company said in its statement.
Hindustan Times, London | By Prasun Sonwalkar
UPDATED ON DEC 23, 2020 02:00 PM IST
The case had gone into arbitration in 2015 when Cairn Energy contested a demand from Indian tax authorities for $1.4 billion owed on capital gains related to the 2007 listing of its Indian unit
New Delhi | By Press Trust of India | Posted by Prashasti Singh
PUBLISHED ON OCT 04, 2020 09:14 PM IST
Finance Ministry sources said the government will decide on challenging the award before a court in Singapore - which was the seat of the arbitration, after taking legal opinion.
Mint, Mumbai | By Kalpana Pathak
UPDATED ON SEP 30, 2020 01:25 AM IST
The Cairn Energy case is the second most high-profile retrospective tax litigation. Last week, an arbitration court in the Hague ruled that India’s Rs 22,000-crore demand from Vodafone Group Plc violated the bilateral investment treaty (BIT) between India and the Netherlands.
Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON APR 15, 2018 11:22 AM IST
The seizure was done to recover a part of the Rs 10,247 crore tax demand it had raised on the British firm using a retrospective tax legislation.