Page 5 - Cairn Energy

Expect to meet Sitharaman on arbitration award next week, says Cairn CEO

Last month, the Edinburg-based firm had written to the govt saying it would be forced to seize Indian government assets if New Delhi fails to pay it $1.4 bn

Cairn Energy CEO Thomson to meet FM next week over arbitration award

Decision comes in the wake of Indian govt's plan to appeal against the award that went against it

Top headlines: Setback for Amazon, India to appeal against Cairn verdict

On Monday, the central bank said it would buy bonds worth Rs 20,000 crore from the secondary markets on Wednesday. Read top news with Business Standard here

Govt may give Cairn oil field instead of paying $1.4 billion: Sources

The government may give Cairn Energy one of the surrendered oil fields such as Ratna R-Series in lieu of the USD 1.4 billion it has pay to the British firm, helping prevent seizure of foreign assets in case of default as well as get a experienced operator in struggling E&P sector, sources said. Cairn Energy gave India its biggest onland oil discovery but exited the country after it was slapped with a Rs 10,247-crore tax demand using a legislation that gave the government the powers to tax companies retrospectively. The firm has now won an international arbitration against the tax demand and the government has been ordered to return the value of shares of Cairn it had sold, dividends it had seized and tax refund it had withheld to recover the tax demand. For a government struggling to find revenue to boost a COVID-19 battered economy, options of appeal against the arbitration award are limited and it may not have the financial bandwidth for such a payout, two sources with knowledge

Decoded: Seizing India's foreign assets won't be easy for Cairn Energy

India can challenge the award in the courts of the seat of the arbitration - in this case, the Dutch courts

Why India should honour the $1.2 bn arbitration award in Cairn's favour

This year's budget is due on Monday. All that Finance Minister Sitharaman has to do is to make a provision for the Cairn payment, an insignificant footnote in her $415 billion-plus expenditure plan

India about to join countries threatened by asset seizures across the world

Cairn Energy Plc will push authorities to impound Indian assets if the South Asian nation declines to honor an arbitration ruling in a $1.2 billion tax dispute, according to a letter the company sent

Cairn threatens to enforce arbitration award against Indian assets overseas

Cairn was awarded damages of over $1.2 billion plus interest and costs in the long-drawn tussle over a tax dispute

Decoded: Why Vodafone, Cairn retro tax cases are in for a long haul

The government sticking to its stand that bilateral investment treaties cannot override a nation's sovereign right to tax

India challenges Vodafone arbitration award, plans the same in Cairn case

Experts mixed on the Indian government response. Some say it will send wrong signal to investors, while others say bilateral investment treaties exclude tax disputes

India loses Cairn case in arbitration; asked to pay Rs 8,842 cr in damages

This is the second setback for Indian government related to retrospective taxation after it lost the arbitration case against Vodafone three months ago

Cairn verdict may push govt to appeal Vodafone order, say officials

India had got 90 days' to challenge the Vodafone award before a court in Singapore - which was the seat of arbitration

Top headlines: India loses Cairn arbitration case; Honda shuts Noida plant

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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

Govt may be waiting on Cairn case before appealing Vodafone award: Report

Retrospective tax to the tune of Rs 10,247 crore levied on UK's Cairn Energy Plc is in arbitration

Hind Zinc may use NCD funds as dividends to help Vedanta delist: analysts

Firm raises Rs 3,520 cr despite firm being cash surplus; It cannot use the proceeds directly for parent company

Top headlines: Cairn seeks $1.4 bn from India, govt may sell 25% in LIC

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After Voda arbitration, now Cairn expects $1.4 bn in losses from retro tax demand

British oil explorer Cairn Energyon Tuesday said it was seeking from the Indian govt Rs 10,300 cr in losses arising from the expropriation of its investments to enforce a retrospective tax demand.

Cairn initiates arbitration against $520 mn govt demand over discrepancies

A source said based on the PSC, the seat of arbitration is likely to be London, while both the parties can have the option of deciding the seat later

Vodafone, Cairn eligible to settle tax in India under new amnesty: Official

Vodafone's dispute relates to its $11-billion acquisition of a 67 per cent stake in the mobile-phone business owned by Hutchison Whampoa