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Cairn says taking steps to realise arbitration award against India May 12, 2021 4:53:am Summary An arbitration tribunal had ruled in favour of Cairn in a six-year-old retrospective tax dispute and ordered the Indian government to pay damages of $1.2bn plus interest and costs. by: Shardul Sharma Posted in: Cairn says taking steps to realise arbitration award against India London-listed Cairn Energy on May 11 said it is taking all necessary actions to protect the $1.2bn plus interest and costs it was awarded by an international arbitration tribunal in a six-y...

  The Board notes that, while all of the resolutions at today's Annual General Meeting were passed with the requisite majority, Resolution 2 (Approval of the Remuneration Report) passed with 65.13% of votes in favour.     Following the Annual General Meeting, Cairn will continue to engage with its shareholders and carefully consider all feedback. We will publish an update on that engagement within six months of the Annual General Meeting, in accordance with the UK Corporate Governance Code     The Company has today submitted to the National Stora...

  Simon Thomson, Chief Executive of Cairn Energy PLC, will make the following statement to the Company's Annual General Meeting for Shareholders at noon, 11 May 2021. As a result of the current COVID-19 pandemic and the legislative measures and associated guidance introduced by the Scottish and UK governments in response, for the safety of our Shareholders, our employees, our advisers and the general public, the General Meeting will be held as a closed meeting. A video recording of the statement can be accessed at  www.cairnenergy.com/investors/shareholder-information/agm/ from noon today...

Cairn Energy optimistic amid India's Dutch claim, portfolio revamp Tue, 11th May 2021 10:24 (Alliance News) - Cairn Energy PLC on Tuesday said it "remains confident" in its position amid a long-running tax dispute with India, which has now gone to Dutch courts. A tribunal ruled in favour of Cairn back in December, awarding the oil & gas explorer USD1.2 billion in damages, plus interest and costs. "This ruling is binding and enforceable under international treaty law. Whilst India has sought to challenge the basis of the award through set-aside proceedings in the Dutch courts, we remain conf...

India asks PSBs to withdraw cash held abroad over dispute with Cairn Energy: Report By Indian authorities have asked the state-run banks to withdraw funds from their foreign currency accounts amid fears that Cairn Energy may try to seize the cash following an arbitration ruling in a tax dispute. In December last year , a Hague-based international arbitration tribunal held that New Delhi must return USD 1.2 billion plus interest and cost to UK’s Cairn Energy Plc following the British firm’s long drawn-out legal tussle with the Indian government over its retrospective tax claims. While New ...