Govt may give oilfield in lieu of $1.4 billion it has to pay Cairn, save overseas assets
For a government struggling to find revenue to boost a COVID-19 battered economy, options of appeal against the arbitration award are limited and it may not have the financial bandwidth for such a payout, two sources with knowledge of the development said. PTI
Source: Reuters
The government may give Cairn Energy one of the surrendered oil fields such as Ratna R-Series in lieu of the USD 1.4 billion it has pay to the British firm, helping prevent seizure of foreign assets in case of default as well as get a experienced operator in struggling E&P sector, sources said.
Send The government may give Cairn Energy one of the surrendered oil fields such as Ratna R-Series in lieu of the USD 1.4 billion it has pay to the British firm, helping prevent seizure of foreign assets in case of default as well as get a experienced operator in struggling E&P sector, sources said.
New Delhi:
Cairn Energy gave India its biggest onland oil discovery but exited the country after it was slapped with a Rs 10,247-crore tax demand using a legislation that gave the government the powers to tax companies retrospectively. The firm has now won an international arbitration against the tax demand and the government has been ordered to return the value of shares of Cairn it had sold, dividends it had seized and tax refund it had withheld to recover the tax demand.
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Many think he is just a pretty face. But since his debut in 2012 with
Student Of The Year, Sidharth Malhotra has constantly striven to disprove the belief that good-looking people can’t act. Here is his 5 bravest efforts.
1.
Ek Villain
(2014): Though ‘villain’ Ritesh Deshmukh walked away with the critical acclaim, Sidharth as the grieving hero packed in a certain amount of florid intensity combined with some terrific stunts. This was one Malhotra’s earliest successes. Interestingly in his other release
Hasee Toh Phasee the same year Malhotra happily allowed Parineeti Chopra to take centre stage.
అపశ్రుతుల్లో భారత ప్రజాస్వామ్యం andhrajyothy.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from andhrajyothy.com Daily Mail and Mail on Sunday newspapers.