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UK s Cairn hopeful of swift solution in $1.2 bn-plus tax tussle with India
This month, Cairn filed a case in a U.S. district court to enforce the arbitration award, taking an initial step in its efforts toward recovering duesPremium
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Devjyot Ghoshal
, Reuters
Cairn said it had held cordial and constructive discussions with officials from the Indian finance ministry
The Indian government welcomes Cairn s move to reach out for a resolution but plans to file an appeal against the arbitration award and contest its sovereign right to tax
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New Delhi: Cairn Energy Plc said on Sunday it had discussed multiple proposals with Indian government officials in recent days in an attempt to find a swift solution to a long drawn-out tax dispute with the South Asian nation.
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Centre invites comments on allowing sale of 50% coal from captive blocks
The ministry has invited comments from the state governments of coal-bearing states and stakeholders/general public on the said proposals
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The central government is planning to permit the sale of 50% of coal/lignite produced by captive blocks, the Union ministry of coal said in a statement. The move is aimed at augmenting the production and increasing the availability of dry fuel.
The move will be carried out by incorporating a provision in the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR). The statement said that an additional amount will be charged on the merchant sales of the coal/lignite.
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