Cairn Energy To Pm Modi

Back when global investors still believed Prime Minister Narendra Modi would keep his promise to end the previous regime's "tax terror," his newly elected government made a costly error. In March 2015, someone in India's labyrinthine bureaucracy decided to send a revenue demand to U.K.'s Cairn Energy Plc - ruining Chief Executive Officer Simon Thom...

Ahead of British Prime Minister Theresa May's maiden visit, UK's Cairn Energy has written to Prime Minister Narendra Modi reminding him that resolution to the Rs 29,047 crore retrospective tax demand it faces is still pending.

The finance ministry is asking for regular progress reports from tax collectors and has set a date for an amnesty to pay off arrears on undeclared domestic assets, as the government intensifies efforts to meet its ambitious deficit target.

British oil firm Cairn Energy Plc has written to Prime Minister Narendra Modi seeking clarity on its Rs 10,247 crore retrospective tax dispute in light of his statement that the government will not resort to retrospective taxation.

Prime Minister Narendra Modi's government sent two notices demanding a total of Rs 31,000 crore in taxes from Cairn Energy and its former subsidiary Cairn India last week for a transaction that occurred in 2006-07. Cairn Energy sold its majority stake in Cairn India to billionaire Anil Agarwal's Vedanta Group in 2011.

Back when global investors still believed Prime Minister Narendra Modi would keep his promise to end the previous regime's "tax terror," his newly elected government made a costly error. In March 2015, someone in India's labyrinthine bureaucracy decided to send a revenue demand to U.K.'s Cairn Energy Plc - ruining Chief Executive Officer Simon Thom...

Ahead of British Prime Minister Theresa May's maiden visit, UK's Cairn Energy has written to Prime Minister Narendra Modi reminding him that resolution to the Rs 29,047 crore retrospective tax demand it faces is still pending.

The finance ministry is asking for regular progress reports from tax collectors and has set a date for an amnesty to pay off arrears on undeclared domestic assets, as the government intensifies efforts to meet its ambitious deficit target.

British oil firm Cairn Energy Plc has written to Prime Minister Narendra Modi seeking clarity on its Rs 10,247 crore retrospective tax dispute in light of his statement that the government will not resort to retrospective taxation.

Prime Minister Narendra Modi's government sent two notices demanding a total of Rs 31,000 crore in taxes from Cairn Energy and its former subsidiary Cairn India last week for a transaction that occurred in 2006-07. Cairn Energy sold its majority stake in Cairn India to billionaire Anil Agarwal's Vedanta Group in 2011.