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I-T Dept slaps Rs 29,000 crore tax demand notice on Cairn Energy

Mar 15, 2016 at 17:47 | Source: FirstPost

New Delhi: The Income Tax Department has slapped on UK's Cairn Energy plc a tax demand notice of over Rs 29,000 crore, including Rs 18,800 crore in back dated interest.It is the second firm to have received retrospective tax notice this year after Vo...

CORRECTED-India's ONGC plans $5 bln investment to develop eastern gas asset| Reuters

Mar 12, 2016 at 23:45 | Source: FirstPost

(In 1st paragraph, corrects figure to $5 billion, in line with the headline, not 5 billion)By Promit MukherjeeMUMBAI India's Oil and Natural Gas Corporation said it will unveil an investment of around $5 billion by the end of March to develop a major...

Budget 2016: Government waives penalty, interest on pending tax disputes

Feb 29, 2016 at 14:27 | Source: FirstPost

New Delhi: In order to soothe nerves of foreign investors, the government on Monday offered one-time settlement of cases emanating from retrospective amendment of tax laws, by asking companies to pay the basic tax demand and get waiver for interest a...

Union Budget 2016: Answers to these 6 questions will determine if Jaitley delivered a dream or dud

Feb 29, 2016 at 13:27 | Source: FirstPost

The Union Budget 2016 is a tightrope walk for Arun Jaitley, the lawyer-turned-politician in Prime Minister Narendra Modi's Cabinet, not just because Indian economy is passing through a painfully tough phase but this budget is also a test for Jaitley ...

Union Budget 2016: Answers to these 6 questions will determine whether Arun Jaitley delivers a dream or disappointment

Feb 29, 2016 at 09:33 | Source: FirstPost

The Union Budget 2016 is a tightrope walk for Arun Jaitley, the lawyer-turned-politician in Prime Minister Narendra Modi's Cabinet, not just because Indian economy is passing through a painfully tough phase but this budget is also a test for Jaitley ...

Union Budget 2016-17: These 6 questions will help you rate Jaitleys tightrope walk

Feb 29, 2016 at 07:50 | Source: FirstPost

The Union Budget 2016 is a tightrope walk for Arun Jaitley, the lawyer-turned-politician in Prime Minister Narendra Modi's Cabinet, not just because Indian economy is passing through a painfully tough phase but this budget is also a test for Jaitley ...

Govt open to out-of-court settlement in Vodafone case: Sinha

Nov 06, 2015 at 21:29 | Source: FirstPost

New Delhi: Government today said it is open to out-of-court settlement with Vodafone and Cairn on tax cases, where the arbitration process has been initiated. "As far as out of court settlement for Vodafone is concerned we have always said that ...

Vedanta says its Cairn India buyout offer is fair| Reuters

Jul 24, 2015 at 00:30 | Source: FirstPost

MUMBAI Mining and energy group Vedanta Limited (VDAN.NS) said on Thursday its offer to buy out minority investors in Cairn India (CAIL.NS) was fair, dismissing reports that opposition from some small shareholders, including former owner Cairn Energy ...

Cairn Energy set to vote against Vedanta-Cairn India merger - FT| Reuters

Jul 22, 2015 at 23:30 | Source: FirstPost

MUMBAI Britain's Cairn Energy Plc is set to vote against Vedanta Ltd's $2.3 billion buyout offer for Cairn India's minority shareholders, the Financial Times said on Wednesday, citing people familiar with the situation. Cairn Energy's objections were...

Carlyle backs former Cairn Energy execs' Indian venture| Reuters

Jun 23, 2015 at 01:30 | Source: FirstPost

NEW DELHI Carlyle Group will invest up to $500 million in Magna Energy Ltd, a new India-focused upstream oil and gas company co-founded by two former Cairn Energy executives, including the man credited with the explorer's Indian drilling successes.Ca...

I-T department to defend Rs 20,495 cr tax claim on Cairn India

Jun 16, 2015 at 19:39 | Source: FirstPost

New Delhi: The Income Tax Department will defend the Rs 20,495 crore tax claim it has made on Cairn India even after the company is merged with its parent Vedanta Ltd.Cairn India has challenged the March I-T notice seeking Rs 20,495 crore in tax for ...

Vedanta to be accountable for Cairn's $3.2 bn tax demand: Moody's

Jun 15, 2015 at 18:36 | Source: FirstPost

New Delhi: Billionaire Anil Agarwal-led mining firm Vedanta Ltd will ultimately be held accountable for Cairn India's $3.2-billion tax liability after it absorbs the cash-rich oil firm, Moody's Investors Service said today.The I-T Department had in M...

Cairn India top brass meet Dharmendra Pradhan ahead of merger with Vedanta

Jun 12, 2015 at 18:43 | Source: FirstPost

New Delhi: Ahead of a planned merger of Cairn India and Vedanta Ltd, top officials of the oil firms including chief executive Mayank Ashar met Petroleum Minister Dharmendra Pradhan to brief on the transaction. Cairn CEO Ashar and CFO Sudhir Mathur me...

FIIs lost case in tribunal, govt will push ahead with Rs 40,000 cr tax demand, says Jaitley

Apr 15, 2015 at 12:15 | Source: FirstPost

New Delhi: Finance Minister Arun Jaitley on Tuesday said the government will press ahead with the Rs 40,000 crore tax demand on foreign institutional investors as FIIs lost a case against levy of tax on capital gains they made."FIIs went to a tr...

FIIs lost their case in tribunal, govt will push ahead with Rs 40,000 cr tax demand: Arun Jaitley

Apr 15, 2015 at 07:39 | Source: FirstPost

New Delhi: Finance Minister Arun Jaitley on Tuesday said the government will press ahead with the Rs 40,000 crore tax demand on foreign institutional investors as FIIs lost a case against levy of tax on capital gains they made."FIIs went to a tr...

Cairn Energy seeks compensation from India on tax demand

Mar 24, 2015 at 19:21 | Source: FirstPost

New Delhi: Cairn Energy of UK is seeking compensation from the Indian government for the loss in value it suffered due to an "unfair and arbitrary" Rs 10,247 crore tax demand raised using a retrospective tax law.Using the UK-India Investmen...

No retro tax: Jaitley quashes tax terrorism fears, says notice on Cairn a UPA legacy

Mar 16, 2015 at 07:55 | Source: FirstPost

London - Finance Minister Arun Jaitley today rejected suggestions that the huge retrospective tax demand on Cairn India has overshadowed enthusiasm in the Indian economy and said it is a "legacy" issue that has to be sorted through legal pr...

Cairn India gets $3.3 billion tax demand days after ex-parent contests own bill

Mar 14, 2015 at 02:30 | Source: FirstPost

MUMBAI (Reuters) - Cairn India Ltd(CAIL.NS), a unit of London-listed Vedanta Group Plc(VED.L), said it received a demand of about 204 billion rupees ($3.26 billion) from the Indian tax office on Friday in relation to the 2007 listing of the company....

British foreign secretary seeks India assurance after $1.6 billion Cairn tax bill

Mar 12, 2015 at 23:15 | Source: FirstPost

NEW DELHI (Reuters) - Britain's foreign minister raised concerns in India on Thursday about a $1.6 billion retrospective tax bill charged to oil explorer Cairn Energy, and had been reassured there are no other such cases.Cairn (CNE.L) this week filed...

Cairn Energy disputes Indian taxman's $1.6 billion demand

Mar 12, 2015 at 03:45 | Source: FirstPost

LONDON/MUMBAI (Reuters) - Oil explorer Cairn Energy Plc has filed a formal dispute against a demand for more than $1.6 billion from the Indian tax department, in the latest high-profile tax row to hit Asia's third-largest economy.News of the potentia...

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