I-T Dept slaps Rs 29,000 crore tax demand notice on Cairn Energy
Mar 15, 2016 at 17:47 | Source:
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...
Budget 2016: Government waives penalty, interest on pending tax disputes
Feb 29, 2016 at 14:27 | Source:
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...
Govt open to out-of-court settlement in Vodafone case: Sinha
Nov 06, 2015 at 21:29 | Source:
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:
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:
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:
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:
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:
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:
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...
Cairn Energy seeks compensation from India on tax demand
Mar 24, 2015 at 19:21 | Source:
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...
Cairn Energy disputes Indian taxman's $1.6 billion demand
Mar 12, 2015 at 03:45 | Source:
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...