Cairn Energy Case

Britain's Cairn Energy has said it has complied with all rules of retro tax repeal law to now become eligible for about Rs 7,900 crore refund of taxes

Britain's Cairn Energy Plc has dropped lawsuits against the government and its entities in the US and other places

About Rs 8,100 crore collected from companies under the scrapped tax provision are to be refunded if the firms agreed to drop outstanding litigation, including claims for interest and penalties.

Cairn Energy has entered into certain undertakings with the Government, which would allow for tax refunds under a long-running billion dollar dispute

Britain's Cairn Energy pledged to return up to $700 million to shareholders through a special dividend and a share buyback this year.

The draft rules say the Centre will not proceed with demands related to retrospective tax levy, provided that all companies withdraw cases against it

India is in talks with Vodafone Group Plc and Cairn Energy Plc to settle long-running tax disputes with them, a top government official said after the nation last week moved to abolish a rule on retrospective taxation scorned by investors.

The Parliament on Monday passed a bill that seeks to do away with the contentious retrospective tax provision and will impact retro tax cases of Cairn Energy and Vodafone.

Cairn Energy Arbitration: Centre has said it has not received any formal proposal from British oil major to resolve the tax dispute.

The Government of India and British oil major Cairn Energy have had a long face-off. It has its origin in a retrospective tax amendment law, under which the company was asked to pay a tax liability by India. Cairn contested against the demand and this led to an arbitration case.

Cairn Energy Dispute: Centre said the CEO and representatives of Cairn Energy have approached it for discussions to resolve the matter.

Cairn was awarded damages of more than $1.2 billion plus interest and costs in December in a long-drawn-out tussle with the Indian government over its retrospective tax claims.

India has appealed on the grounds that taxation-related matters are not covered in its bilateral investment treaty with the United Kingdom under which the case was filed, and the arbitration tribunal does not have the jurisdiction to rule on the matter

India has appealed against an order by an international tribunal to pay $1.2 billion in damages, plus other costs, to Cairn Energy in a long-running tax dispute, two sources with direct knowledge of the matter told Reuters.

In December, an arbitration body awarded the British firm damages of $1.2 billion plus interest and costs, after ruling India had breached its obligations to Cairn under the U.K.-India Bilateral Investment Treaty

Britain's Cairn Energy has said it has complied with all rules of retro tax repeal law to now become eligible for about Rs 7,900 crore refund of taxes

Britain's Cairn Energy Plc has dropped lawsuits against the government and its entities in the US and other places

About Rs 8,100 crore collected from companies under the scrapped tax provision are to be refunded if the firms agreed to drop outstanding litigation, including claims for interest and penalties.

Cairn Energy has entered into certain undertakings with the Government, which would allow for tax refunds under a long-running billion dollar dispute

Britain's Cairn Energy pledged to return up to $700 million to shareholders through a special dividend and a share buyback this year.

The draft rules say the Centre will not proceed with demands related to retrospective tax levy, provided that all companies withdraw cases against it

India is in talks with Vodafone Group Plc and Cairn Energy Plc to settle long-running tax disputes with them, a top government official said after the nation last week moved to abolish a rule on retrospective taxation scorned by investors.

The Parliament on Monday passed a bill that seeks to do away with the contentious retrospective tax provision and will impact retro tax cases of Cairn Energy and Vodafone.

Cairn Energy Arbitration: Centre has said it has not received any formal proposal from British oil major to resolve the tax dispute.

The Government of India and British oil major Cairn Energy have had a long face-off. It has its origin in a retrospective tax amendment law, under which the company was asked to pay a tax liability by India. Cairn contested against the demand and this led to an arbitration case.

Cairn Energy Dispute: Centre said the CEO and representatives of Cairn Energy have approached it for discussions to resolve the matter.

Cairn was awarded damages of more than $1.2 billion plus interest and costs in December in a long-drawn-out tussle with the Indian government over its retrospective tax claims.

India has appealed on the grounds that taxation-related matters are not covered in its bilateral investment treaty with the United Kingdom under which the case was filed, and the arbitration tribunal does not have the jurisdiction to rule on the matter

India has appealed against an order by an international tribunal to pay $1.2 billion in damages, plus other costs, to Cairn Energy in a long-running tax dispute, two sources with direct knowledge of the matter told Reuters.

In December, an arbitration body awarded the British firm damages of $1.2 billion plus interest and costs, after ruling India had breached its obligations to Cairn under the U.K.-India Bilateral Investment Treaty