Cairn

Hitesh Vaid said the company has already drilled a few wells in its Assam block and remains bullish about the region as a whole becoming the next hub for Cairn Oil & Gas.

Cairn Oil & Gas fast-tracks net-zero emissions target to 2030: Deputy CEO

The private oil and gas exploration and production company had earlier pledged to achieve net-zero targets by 2050.

Cairn Oil & Gas reports 19% jump in reserves and resources portfolio

Total reserve plus resource additions exceeded production, leading to a resource replacement ratio of 533 percent, a fivefold increase from 108 percent a year earlier.

Why has Vedanta moved SAT against Sebi?

On March 12, Sebi had issued an order against Vedanta and former directors of the company. Now, Vedanta has moved the Securities Appellant Tribunal(SAT) against this Sebi order. Moneycontrol explains the details of the case

Vedanta to appeal Sebi order, says Cairn gave up right to claim interest

Sebi had on Tuesday ordered Vedanta to pay Rs 77.62 crore to Scottish explorer Cairn and also barred the firm's entire board, including his brother Navin and daughter Priya, from accessing the capital market for the same.

Cairn Oil & Gas plans two-thirds of capital spend on near-term development opportunities: CEO Nick Walker

The company aims to double its share in India's domestic oil production to 50 percent and hopes that the Indian government will reconsider the windfall tax on oil.

How Shah Rukh Khan's 'Om Shanti Om' helped Vedanta seal Cairn deal

"My dream of getting the bid for Cairn became a reality after release of Om Shanti Om… and this dialogue by Shah Rukh Khan has stuck with me since," Vedanta founder and chairperson Anil Agarwal said.

Lower taxes, levies on oil and gas sector can unlock substantial investment: Cairn Oil & Gas CEO Prachur Sah

The company plans to invest $5 billion by FY26, of which $3 billion would be in the Rajasthan block, said Prachur Sah

Explained | What are India’s BITs and how do they affect international arbitration?

International arbitration is at the heart of the bilateral investment treaties signed by the government since 2015 when the Centre unilaterally cancelled all investment and tax agreements. While foreign companies claim the Indian legal system is slow and corrupt, the government is against fighting legal battles abroad that bleed public coffers.

Govt accepts Cairn's offer on retro tax; company to withdraw cases now, refund to follow: Report

Meeting the requirements of the new legislation that scraps levy of retrospective taxation, the company had earlier this month given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world.

Cairn, Air India seek stay on New York court proceedings

The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn, according to court documents reviewed by PTI.

Exclusive | How the govt set about burying retrospective tax in complete secrecy

Moneycontrol spoke to multiple sources and pieced together an account of how officials in the Prime Minister’s Office and the Finance Ministry acted swiftly to draft the amendment bill, push it through cabinet and then table it in Lok Sabha once the political leadership had given its go-ahead.

INTERVIEW | Cairn must stop arbitration process, it will be a clean slate from both sides: Revenue Secretary

Speaking to Moneycontrol in an exclusive interview, Tarun Bajaj said that the Centre had waited for Vodafone and Cairn legal cases to reach their conclusion before making the move to repeal retrospective tax, and that getting rid of it does not take away the Sovereign’s right to tax.

Interview | World confused over what India has achieved through retrospective taxation: Investment law expert Prabhash Ranjan

While the government’s move to do away with the controversial retrospective taxation amendments has been late in coming, it will nonetheless signal policy stability to foreign investors, says senior international investment and tax law expert Prabhash Ranjan

Govt move to undo retrospective tax law means India to forego tax demands of Rs 50,000 crore

The government has moved to nullify all retrospective tax demands, which have seen India fighting legal battles with global corporations for more than a decade now.

Govt buries ghosts of retrospective tax, tables taxation law amendments in Lok Sabha

"The Bill proposes to amend the Income-tax Act, 1961 so as to provide that no tax demand shall be raised in future on the basis of the said retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before 28th May, 2012," Finance Minister Nirmala Sitharaman said in a written statement along with the bill.

Cairn arbitration: Govt confirms French court order against Indian assets

Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Rajya Sabha said the government has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 crore in back taxes on Cairn Energy.

Govt vs Cairn Energy: Here's what has happened so far

In December 2020, the Permanent Court of Arbitration at The Hague had ruled that the Indian government should pay damages worth $1.2 billion to Cairn Energy, since it had wrongfully applied a retrospective tax demand.

After Air India, Cairn to target more state companies to recover money due from govt

A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the USD 1.2 billion plus interest and penalties that are due from the Indian government.

Inter-Ministerial Group to frame India's response to Cairn's suit against Air India

The high-level team will chalk out the country's course of action once notice is received, a senior official told Moneycontrol. The Inter-Ministerial Group comprises officials from departments of Revenue, Economic Affairs, Law and External Affairs.

Cairn offers to forego $500 million if India agrees to pay principal due

The Indian government has appealed against the tribunal ruling on grounds that tax levied by a sovereign power should not be subject to private arbitration.

Centre to appeal against Cairn's $1.2 billion arbitration award

The decision comes despite the Indian government having 'welcomed' Cairn Energy’s efforts to reach out for a dispute resolution

Britain's Cairn files case in US to push India to pay $1.2 billion award

An arbitration body had in December 2020 awarded Cairn damages of more than $1.2 billion plus interest and costs. The tribunal ruled that India had breached an investment treaty with Britain and said New Delhi was liable to pay.

What Vedanta Resources’ $10 Billion divestment kitty can achieve

The Anil Agarwal-promoted holding company is raising money to bid in the government’s PSU privatisation drive

Arbitration ruling | Government examining Cairn judgement, sources say

The government has been asked to pay damages at the share value of Rs 330 in 2014, instead of the Rs 220-240 per share price at which it was sold by the Income-Tax Department in 2018, in tranches. The damages also include Rs 1,590 crore of tax refund due to the British company besides the legal fees.