Saturday, 25 June, 2022
TopicCairn Energy

Topic: Cairn Energy

Corporate wars are common in India’s oil sector. But it all started with govt, ONGC, OIL

In ‘Unfilled Barrels’, journalist Richa Mishra recounts India's upstream journey in the oil sector from KD Malaviya to ONGC.

Cairn Energy to withdraw cases as Modi govt agrees to refund Rs 7,900 cr retro tax to firm

The UK firm had earlier given required undertakings indemnifying the Centre against future claims as well as agreeing to drop any legal proceedings anywhere in the world.

New York court pauses Cairn lawsuit against Indian govt to allow settlement of dispute

UK firm Cairn Energy had said it would drop litigation to seize Air India's assets in the US after it gets the $1 billion refund, which is due to it after India scrapped its retrospective tax law.

Air India, Cairn jointly seek stay on New York court proceedings

The move follows the Modi govt agreeing to refund Rs 7,900 crore to Cairn & scrapping retrospective tax, resulting in withdrawal of Rs 10,247 crore tax demand on the British firm.

Modi govt to offer indemnity to Air India bidders over claims arising from Cairn tax dispute

Cairn, which last year won an arbitration award for $1.7 bn over a controversial retrospective tax demand, has called Air India 'an alter ego' of the Indian govt.

Air India asks US court to dismiss Cairn plea seeking seizure of assets, says it’s premature

New Delhi: Air India has asked a New York court to dismiss a petition filed by Britain's Cairn Energy for seizure of its assets...

Govt releases draft of declaration to be given by companies to enable withdrawal of retro tax demands

The govt earlier enacted Taxation Laws (Amendment) Act which removed its power to slap capital gains levies wherever ownership had changed hands overseas but their assets were in India.

Retrospective tax is a start, Modi govt needs to do more to make India’s playing field fairer

Retrospective taxes are just one facet of arbitrary state action. MNCs that have committed billions of dollars have many other legal minefields awaiting them.

Modi govt finally moves to bury controversial UPA era retrospective tax ghost

Decision will end India’s dispute with Vodafone Plc and Cairn Energy Plc, and in 15 other similar cases. FM Sitharaman notes that the retrospective tax became a ‘sore point’ with investors.

Cairn targets Indian assets in Paris: What is its dispute with Modi govt & why it’s escalated

A tax dispute stemming from a 15-year old transaction has adversely impacted India’s efforts to project itself as an investor friendly destination. ThePrint explains

On Camera

YourTurn

Bucket hat meet feather boa Photographer: Kevin Winter/Getty Images North America

1990s house music and fashion are back — unfortunately, so is a 1970s economy

It may be fear of recession that’s driving today’s obsession with all things early ‘90s. The period was characterised by a dismal economy and large-scale unemployment.
Bombay Stock Exchange in Mumbai | Bloomberg File Photo

Three charts show trouble for Indian stocks and why its unlikely to end anytime soon

The S&P BSE Sensex Index has fallen more than 15% from its October high, nearing the 20% loss that denotes a bear market.

Defence

The Indian Air Force logo | Commons

Almost 4,000 enrol for IAF’s Agnipath recruitment scheme on day 1 of online registrations

These registrations pertain to the Indian Air Force's Agniveer Vayu programme. The online portal for the first phase was opened at 10 am Friday, and will close on 5 July.

With Agnipath, Modi govt’s shock & awe doctrine may have misfired a vital reform, yet again

Modi govt's biggest flaw has been its disinclination to accept limitations of electoral majorities. This ruined land acquisition and farm reform, stalled labour codes.
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