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
Ending "tax terrorism" was the BJP's promise in the 2014 election that brought Narendra Modi to power giving hope to the likes of the UK's Cairn Energy Plc. But the hopes have been belied
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
Cairn is awaiting its own arbitration award for which the final hearings concluded way back in 2018
Cairn initiated arbitration against Indian gov using new law that imposed taxes retrospectively, to slap a tax demand of Rs 10,247 cr on a decade old internal reorganisation of its India unit
Firm's stakeholders have urged US officials to raise Rs 10,247-cr dispute with Modi
I-T dept will now move to take over the 9.8% shareholding Cairn Energy had in Cairn India
Officials said they had lifted the freeze on dividend payment by Vedanta on March 31, 2016
Cairn Energy held 10% stake in Cairn India, which, after merger with Vedanta, stands reduced to 5%
UK-based firm has approached an international arbitration panel to intervene in the matter
Earlier, the I-T dept had raised a tax demand of Rs 10,247 cr and another Rs 18,800 cr
I-T Department had said that Cairn UK made a capital gain of Rs 24,503.50 crore
Cairn has initiated an international arbitration seeking $5.6 billion in compensation from the Indian government