cairn energy plc
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  • Cairn Energy tax dispute | Indian government asks banks to protect dollars: Report May 05, 2021 10:16 AM IST

    Cairn Energy tax dispute | Indian government asks banks to protect dollars: Report

    After winning the appeal in an arbitration tribunal in The Hague, the Scottish firm has threatened to seize Indian sovereign assets overseas which it can do so in the event of New Delhi failing to return over $1.7 billion.

  • India files appeal against Cairn arbitration award Mar 23, 2021 08:59 PM IST

    India files appeal against Cairn arbitration award

    Finance Minister Nirmala Sitharaman had earlier this month indicated the government's intent of appealing against the award on grounds of it questioning the sovereign powers of India to levy taxes.

  • India has till mid-April to appeal against Cairn award; challenge only on limited grounds Mar 19, 2021 02:45 PM IST

    India has till mid-April to appeal against Cairn award; challenge only on limited grounds

    The award from a three-member tribunal at the Permanent Court of Arbitration at The Hague invalidating India's Rs 10,247 crore tax claim on Cairn Energy and ordering the government to return the value of shares it had sold, dividends seized and tax refunds withheld, was registered in the Netherlands on January 8, two people aware of the matter said.

  • Cairn Energy says it has identified Indian assets for seizing should it be not paid Mar 09, 2021 04:46 PM IST

    Cairn Energy says it has identified Indian assets for seizing should it be not paid

    "Cairn is extremely confident that satisfaction of the award will be achieved either by negotiated settlement or by enforcement against Indian assets,” the firm said in its 2020 annual earnings statement.

  • India to appeal against arbitration decision questioning authority to tax Mar 05, 2021 04:02 PM IST

    India to appeal against arbitration decision questioning authority to tax

    In December, an arbitration body awarded the British firm damages of $1.2 billion plus interest and costs, after ruling India had breached its obligations to Cairn under the UK-India Bilateral Investment Treaty.

  • Cairn holding in Vedanta down to 0.1% after tax dept sells 99% shares Mar 12, 2019 04:53 PM IST

    Cairn holding in Vedanta down to 0.1% after tax dept sells 99% shares

    The company reported a net loss of $1.1 billion in the year ending December 31, 2018 'resulting principally from a write-down of Cairn's investments in India', it said.

  • Cairn tax dispute: I-T dept orders recovery of Rs 10,000 cr Jun 19, 2017 12:25 PM IST

    Cairn tax dispute: I-T dept orders recovery of Rs 10,000 cr

    The department ordered taking away USD 104 million dividend due to it from its remaining stake in the erstwhile subsidiary Cairn India (now called Vedanta Ltd) and another Rs 1,500 crore of tax refund due to it, a top source said.

  • Cairn seeks repeal of retro tax law in upcoming Budget Jan 25, 2017 03:26 PM IST

    Cairn seeks repeal of retro tax law in upcoming Budget

    "Cairn Energy would like the Government of India to take the opportunity to repeal the legislation on retrospective taxation in the forthcoming budget.

  • Cairn to use benefits of I-T dispute resolution scheme: Agarwal Dec 29, 2016 09:55 PM IST

    Cairn to use benefits of I-T dispute resolution scheme: Agarwal

    In an interview with CNBC-TV18, Vedanta's Anil Agarwal said that he has asked Cairn Plc to avail of the benefits of Income Tax department's dispute resolution scheme in over Rs 10,000 crore tax dispute.

  • Cairn's EGM on Vedanta merger today; outcome likely positive Sep 12, 2016 11:38 AM IST

    Cairn's EGM on Vedanta merger today; outcome likely positive

    Cairn Energy Plc and Mondrian's vote, at this moment, is counted crucial to make the more than 50 percent consent.

  • Cairn India CEO Mayank Ashar resigns May 20, 2016 06:08 PM IST

    Cairn India CEO Mayank Ashar resigns

    Cairn India Chief Executive Mayank Ashar has quit the job, the third CEO to resign from the company ever since it was taken over by billionaire Anil Agarwal-led Vedanta Group four-and-a-half-years back

  • Jaitley defends appeal in Vodafone tax case Apr 20, 2016 07:00 PM IST

    Jaitley defends appeal in Vodafone tax case

    Vodafone had got favourable verdicts from the Bombay High Court in two tax cases last year.

  • Cairn Energy to seek shareholder approval to exit Cairn India Apr 07, 2016 08:41 PM IST

    Cairn Energy to seek shareholder approval to exit Cairn India

    Cairn Energy has called for an annual general meeting on May 12 to seek shareholder approval to sell its entire residual stake in Cairn India.

  • Laurent Levy named third arbitration in Cairn tax case Jan 18, 2016 08:31 PM IST

    Laurent Levy named third arbitration in Cairn tax case

    Levy was approved as the neutral arbitrator on the panel last week after appointees of Cairn and the Government agreed to his name, sources said.

  • Cairn India, Vedanta merger to strengthen both cos: Tom Oct 27, 2015 10:11 PM IST

    Cairn India, Vedanta merger to strengthen both cos: Tom

    In June, India's largest private miner Vedanta Ltd had announced it will absorb oil firm Cairn India in a USD 2.3 billion all-share deal to create the country's largest diversified natural resources firm.

  • India to appoint arbitrator to resolve Cairn tax row Oct 25, 2015 01:44 PM IST

    India to appoint arbitrator to resolve Cairn tax row

    India has told the International Court of Justice that it will soon appoint an arbitrator to resolve the Rs 10,247-crore tax dispute with British oil explorer Cairn Energy Plc.

  • Vedanta mulls sweetening Cairn India merger swap ratio Oct 23, 2015 08:18 PM IST

    Vedanta mulls sweetening Cairn India merger swap ratio

    According to the deal proposed by Vedanta, minority shareholders of Cairn India will receive one equity share in Vedanta for each share held, along with one 7.5 percent redeemable preference share with Rs 10 face value.

  • IMG to decide govt action on Cairn arbitration next week Aug 07, 2015 07:11 PM IST

    IMG to decide govt action on Cairn arbitration next week

    Finance Minister Arun Jaitley on Friday discussed with his ministry officials the arbitration notices served by foreign firms ahead of the IMG meeting next week. Revenue Secretary Shaktikanta Das said IMG will meet next week and put forth its views to Jaitley.

  • 'Cairn Energy to vote against Vedanta-Cairn India merger' Jul 23, 2015 08:14 AM IST

    'Cairn Energy to vote against Vedanta-Cairn India merger'

    Cairn Energy's objections were over "fundamental disagreements over valuations", and its preference for "holding an investment in an energy company rather than a distributed resources group," the newspaper said, citing one person with direct knowledge of the matter.

  • Carlyle Group to invest $500 million in Magna Energy Jun 22, 2015 08:31 PM IST

    Carlyle Group to invest $500 million in Magna Energy

    US-based private equity firm Carlyle Group on Monday said it will invest USD 500 million in Magna Energy Ltd, an India-focused oil firm founded by Mike Watts, the man who saw oil in Rajasthan's Thar desert where global giant Royal Dutch Shell saw none.

  • Anil Agarwal rules out raising offer price for Cairn Jun 16, 2015 08:49 PM IST

    Anil Agarwal rules out raising offer price for Cairn

    Minority shareholders of Cairn, who have seen share prices almost halve to Rs 170-180 in past one year on back of the company cutting exploration expense and falling oil prices, have criticised the offer of one Vedanta Ltd share and one 7.5 percent preference share in Vedanta Ltd for every share they hold.

  • Govt to press ahead with Rs 40,000cr tax demand on FIIs: FM Apr 15, 2015 09:44 AM IST

    Govt to press ahead with Rs 40,000cr tax demand on FIIs: FM

    "FIIs went to a tribunal, which is called Authority for Advance Rulings (against levy of 20 percent Minimum Alternate Tax on capital gains). They got a judgement against themselves".

  • Cairn India takes officials to court over $3.3bn tax demand Apr 07, 2015 10:29 AM IST

    Cairn India takes officials to court over $3.3bn tax demand

    Cairn India received last month the demand of about 204 billion rupees from Indian tax authorities for an alleged failure to deduct withholding tax on capital gains made by its former parent, Cairn Energy Plc , during a reorganisation ahead of its market listing.

  • Cairn India slapped with Rs 20,495 crore tax demand Mar 13, 2015 11:21 AM IST

    Cairn India slapped with Rs 20,495 crore tax demand

    Cairn India said it does not agree with the tax demand and will pursue all possible options to protect its interest.

  • Govt says Cairn Energy tax claim 'legacy of UPA': Sources Mar 12, 2015 09:54 AM IST

    Govt says Cairn Energy tax claim 'legacy of UPA': Sources

    A day after the tax department was learnt to have issued a notice to London-based Cairn Energy in a three-year-old case, sources told CNBC-TV18 government officials believe the issue is a “legacy of the previous government” and that the incumbent regime is committed to ending the era of retrospective taxation.

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