Cairn Energy

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Cairn faces Rs 10,247-cr fine in addition to Rs 29k cr tax demand

Apr 07, 2016 at 19:13 | Source: FirstPost

New Delhi: British oil explorer Cairn Energy Plc faces up to Rs 10,247-crore penalty over and above the Rs29,000 crore in tax and interest demand slapped on it by the I-T Department using a retrospective legislation.In a circular to shareholders, the...

Vodafone moves International Court of Justice over tax arbitration with India

Mar 29, 2016 at 19:46 | Source: FirstPost

New Delhi: British telecom giant Vodafone is believed to have moved the Hague-based International Court of Justice (ICJ) seeking appointment of a judge to preside over a arbitration over its Rs 14,200-crore tax case.Vodafone this month moved ICJ afte...

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...

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 ...

Vodafone's tax troubles continue as I-T dept asks to pay up Rs 14,300 cr or face asset seizure

Feb 17, 2016 at 08:39 | Source: FirstPost

Just ahead of the Union Budget for 2016-17, tax terrorism, which has already taken a toll on investor sentiment, seems to be returning to haunt the multinational companies in India. This, despite finance minister Arun Jaitley and other NDA ministers ...

Retro tax knocks at Vodafone's door again, I-T dept serves $2 bn notice

Feb 17, 2016 at 07:58 | Source: FirstPost

Just ahead of the Union Budget for 2016-17, tax terrorism, which has already taken a toll on investor sentiment, seems to be returning to haunt the multinational companies in India. This, despite finance minister Arun Jaitley and other NDA ministers ...

Vodafone back on I-T's radar, asked to pay up $2 bn or risk asset seizure

Feb 16, 2016 at 18:24 | Source: FirstPost

Just ahead of the Union Budget for 2016-17, tax terrorism, which has already taken a toll on investor sentiment, seems to be returning to haunt the multinational companies in India. This, despite finance minister Arun Jaitley and other NDA ministers ...

Tax terrorism returns? Pay up $2 bn or will seize assets, India threatens Vodafone

Feb 16, 2016 at 13:00 | Source: FirstPost

Just ahead of the Union Budget for 2016-17, tax terrorism, which has already taken a toll on investor sentiment, seems to be returning to haunt the multinational companies in India. This, despite finance minister Arun Jaitley and other NDA ministers ...

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 hit by commodity slump, eyes rosier year end| Reuters

Oct 28, 2015 at 01:15 | Source: FirstPost

MUMBAI Vedanta Ltd (VDAN.NS) posted a more than 40 percent drop in its quarterly net profit, as a global commodity slump dented earnings from its oil, gas and mining operations, but the resources group said it expected a "better" second hal...

India to simplify income tax law to ease doing business | Reuters

Oct 28, 2015 at 00:45 | Source: FirstPost

NEW DELHI India has set up a new panel to simplify the country's 55-year-old income tax law, Finance Minister Arun Jaitley said on Tuesday, part of an effort to make it easier to do business in Asia's third-largest economy.The panel will suggest ways...

India plans to address some pending tax disputes within days - Jaitley| Reuters

Sep 17, 2015 at 11:45 | Source: FirstPost

NEW DELHI India plans to address some pending tax disputes in the next few days, Finance Minister Arun Jaitley said on Thursday, but did not give details or say whether the cases in question included disputes with foreign companies that have spooked ...

Govt to tax collectors: give foreign companies a break| Reuters

Sep 05, 2015 at 01:30 | Source: FirstPost

MUMBAI India's tax officials, long the scourge of foreign investors, are under government pressure to avoid aggressive claims against overseas funds and companies, as the country seeks to repair an image dented by high-profile tax battles.The latest ...

Vedanta looks to restart Goa mines by October| Reuters

Jul 29, 2015 at 23:45 | Source: FirstPost

MUMBAI Vedanta Ltd said on Wednesday it expected to restart iron ore mining by October in top exporting Goa province and that talks were continuing with regulators for merging with its cash-rich unit Cairn India (CAIL.NS).The mining and energy group,...

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...

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