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Cairn Energy Tax Dispute: Centre Says Open To Amicable Solution

Cairn Energy Tax Dispute: Centre Says Open To Amicable Solution
Cairn Energy Tax Dispute: Centre Says Open To Amicable Solution
Cairn Energy Dispute: Centre said the CEO and representatives of Cairn Energy have approached it for discussions to resolve the matter.
Centre has said that Cairn Energy has approached it for amicable settlement
The Government on Sunday said that it can consider an amicable solution to the Cairn dispute. It also said that the CEO and the representatives of Cairn Energy have approached the Centre for discussions to resolve the matter.
In a statement issued by the Finance Ministry, it also vehemently denied reports claiming that it asked state-owned banks to withdraw funds from foreign currency accounts abroad in anticipation of the potential seizure of such accounts with regard to the Cairn legal dispute . ....

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Cairn Energy case Europe's leading player oil gas wins USD 1.4 billion arbitration award

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Image Source : PTI
Cairn Energy case: Europe s leading player in oil and gas wins USD 1.4 billion arbitration award
In a major boost to Cairn Energy, courts in five countries, including the US and the UK, have given recognition to an arbitration award that asked India to return $1.4 billion. According to experts, this opens the avenue for Cairn to seize Indian assets in those countries if India does not pay the award. Cairn Energy had moved the courts in nine countries to enforce the award against India, which the company won after a dispute over a retrospective capital gains tax. ....

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Cairn Energy CEO meets Indian finance secretary as shareholders impatiently wait for action on the $1.4 billion tax dispute

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Cairn Energy CEO meets Indian finance secretary as shareholders impatiently wait for action on the $1.4 billion tax dispute
Cairn Energy CEO meets Indian finance secretary as shareholders impatiently wait for action on the $1.4 billion tax dispute
Navdeep YadavFeb 18, 2021, 16:55 IST
Cairn Energy Twitter
UK-based
Cairn Energy plc CEO Simon Thomson called upon the union finance ministry to see a possible solution outside the legal options to get $1.4 billion in a tax dispute against India.
Cairn Energy plc CEO Simon Thomson told reporters that the meeting with the finance secretary was constructive.
This comes days after the company moved the US, the UK and the Netherlands courts to get $1.4 billion in a tax dispute against India.Days after filing cases in the US, the UK and the Netherlands courts to get $1.4 billion in a tax dispute against India, UK-based Cairn Energy plc called upon the union finance ministry to see a possible solution outside ....

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To Make India Pay $1.2 Billion Award, Cairn Files Case In US

To Make India Pay $1.2 Billion Award, Cairn Files Case In US
To Make India Pay $1.2 Billion Award, Cairn Files Case In US
Cairn asked the US court to recognise and confirm the award, including payments due since 2014 and interest compounded semi-annually, according to a February 12 filing
The case marked a first step in Cairn s efforts towards recovering its dues
Cairn Energy has filed a case in a U.S. district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure on the government to pay its dues. In December, an arbitration body awarded the British firm damages of more than $1.2 billion plus interest and costs. The tribunal ruled India breached an investment treaty with Britain and said New Delhi was liable to pay. Cairn asked the U.S. court to recognise and confirm the award, including payments due since 2014 and interest compounded semi-annually, according to the Feb. 12 fili ....

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