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Ten stocks in focus in Thursday morning trade

Apr 17, 2014 at 08:46 | Source: Economic Times

NEW DELHI: Indian markets are expected to trade in a range on Thursday following positive trend seen in other Asian markets. The Nifty has finally broken the rising channel and closed below the same. This further increases the probability of wave 2/...

Cairn keeps local exit on the boil

Apr 17, 2014 at 03:17 | Source: Calcutta Telegraph News

New Delhi, April 16 (PTI): Undeterred by the income tax department’s restrictions, Cairn Energy Plc has sought fresh approval from shareholders to sell its 9.65 per cent stake in Cairn India when such curbs are lifted. In January, the income t...

Cairn Energy suffers fresh tax trauma

Apr 04, 2014 at 21:07 | Source: Calcutta Telegraph News

New Delhi, April 3: Cairn Energy has been slapped with two more tax notices, which the Scottish explorer plans to counter vehemently. Cairn already faces a potential tax demand on an alleged Rs 24,500-crore capital gain it made when in 2006-07 it tr...

Why Rajasthan's Barmer is a high-stake Lok Sabha constituency for politicians

Mar 30, 2014 at 07:16 | Source: Economic Times

BARMER, RAJASTHAN: In 2002, Lalit Kumar Kiri was struggling with the inevitable question that confronts high teens - "what next?" Kiri is a trained pharmacist, but he hated his family's pharmacy business in Barmer, the behemoth of a district in west ...

Cairn buyback trips on tax tiff

Mar 19, 2014 at 03:41 | Source: Calcutta Telegraph News

Mumbai, March 18: Cairn Energy Plc, the British oil and gas explorer, today suspended its $300-million share buyback programme because of a raging tax dispute in India that dates back to 2006. The tax tangle has stalled its plans to pull out of Indi...

Losses mount for Edinburgh-based Cairn Energy

Mar 18, 2014 at 17:12 | Source: BBC

Edinburgh-based oil and gas explorer Cairn Energy has reported a pre-tax loss of $1.1bn (£660m) for 2013 up from $194m (£116m) loss the previous year. It followed a number of unsuccessful drilling projects. This week Cairn announced a well in Moroc...

Cairn Energy halts share buy-back after Indian tax probe

Mar 18, 2014 at 15:59 | Source: NDTV Profit

London-listed oil and gas explorer Cairn Energy said it would halt a $300 million share buy-back programme while Indian tax authorities assess income taxes dating back seven years. The company made the announcement on Tuesday as it reported a 2013&am...

Cairn reports 2013 loss after cost of unsuccessful drilling rises

Mar 18, 2014 at 14:46 | Source: Economic Times

LONDON: London-listed oil and gas explorer Cairn Energy posted a $556 million loss after tax in 2013 after high costs for unsuccessful drilling in Morocco and the North Sea. The company's costs for unsuccessful exploration rose 34 percent year on yea...

Cairn Energy halts $300 million share buy-back after income-tax probe

Mar 18, 2014 at 14:46 | Source: Economic Times

NEW DELHI: Scottish explorer Cairn Energy plc on Tuesday said it has suspended a $300 million share buyback as it is unable to sell its 10 per cent stake in Cairn India due to a tax dispute. Cairn Energy had in October last year announced a $300 mil...

Cairn Energy chairman Sir Bill Gammell to step down

Mar 03, 2014 at 15:37 | Source: BBC

Cairn Energy founder Sir Bill Gammell is to step down as chairman after more than two decades on the board of the oil company. He will leave the post in May to be replaced by Ian Tyler, former chief executive of Balfour Beatty. Sir Bill was Cairn...

Cairn Energy reassures on Indian tax rules compliance

Feb 01, 2014 at 12:37 | Source: Economic Times

Facing a potential tax demand on an alleged Rs 24,500 crore of capital gains it made on transferring India assets to a new company, Scottish explorer Cairn Energy plc today said it was fully compliant with the tax legislation in force when it operat...

Cairn denies tax dodge

Feb 01, 2014 at 04:37 | Source: Calcutta Telegraph News

New Delhi, Jan. 31: Scottish oil explorer Cairn Energy today said it was fully compliant with Indian tax laws during the period a tax claim was made on the company for transferring its Indian assets to a new entity. “Cairn has reconfirmed with...

Diageo buys majority stake in India's United Spirits

Jan 30, 2014 at 17:07 | Source: BBC

UK drinks giant Diageo is buying a majority stake in India's United Spirits group for £1.28bn ($2.04bn). Diageo, whose brands include Johnnie Walker, Guinness and Smirnoff, will get a 53.4% share in Indian liquor baron Vijay Mallya's Unite...

Income-Tax Dept asks Cairn Energy to hold shares in Indian subsidiary

Jan 25, 2014 at 16:27 | Source: The Hindu BusinessLine

UK-based Cairn Energy PLC has said that the income-tax department has instructed the company to hold its shares in the Indian subsidiary Cairn India. “Cairn has been contacted by the Income-Tax Department to discuss income-tax assessments for ...

Tax spanner in Cairn selloff

Jan 25, 2014 at 07:17 | Source: Calcutta Telegraph News

New Delhi, Jan. 24: The income tax department, probing Cairn Energy’s transfer of Indian assets, has asked the British company not to take any steps to sell a part of its 10.3 per cent stake in Cairn India. The department feels it can gouge ou...

Tax sleuths ask UK's Cairn to hold on to stake in Indian arm

Jan 25, 2014 at 04:37 | Source: Economic Times

NEW DELHI/MUMBAI: Indian tax authorities have asked UK's Cairn Plc to hold on to its 10 per cent equity in Cairn India, worth nearly Rs 6,400 crore, while they try to figure out if the profits made by the British company by selling shares in the init...

Indian tax authorities ask UK's Cairn Energy to hold on its stake in Cairn India

Jan 24, 2014 at 20:00 | Source: VC Circle

UK-based energy firm Cairn Energy Plc has been directed by the Income Tax Department of India, which is probing possible capital gains tax liability from a previous stake sale, to hold on to its 10.3 per cent holding in Cairn India Ltd. The firm ...

Cairn Energy restrained by IT dept from selling India stake

Jan 24, 2014 at 16:20 | Source: FirstPost

New Delhi: The Income Tax Department, which is probing Cairn Energy plc's transfer of India assets, has asked the UK-based company not to dispose of its 10.3 percent holding in Cairn India.Cairn Energy was widely seen as a likely participant in the I...

Cairn India faces income-tax probe over share transfer

Jan 22, 2014 at 22:12 | Source: The Hindu BusinessLine

Vedanta Group Company Cairn India is under the income-tax department’s scrutiny over the transfer of shares by the explorer’s UK-based promoter Cairn Energy to the Indian subsidiary. IT sleuths visited Cairn India’s office at Gurga...

IT dept 'surveys' Cairn India on transfer of assets

Jan 22, 2014 at 14:46 | Source: FirstPost

New Delhi: The Income-Tax department has 'surveyed' the office of nation's largest oil producer Cairn India in connection with transfer of assets by its erstwhile UK promoter, Cairn Energy plc to the Indian entry.The Gurgaon office of Cairn India was...

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