A New York court has paused Energy’s pursuit of US assets of Air India for the recovery of USD 1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, … Read more
Mumbai: Senior Cairn Energy executives are expected to meet finance ministry officials this week to discuss their tax dispute, days after Parliament approved scrapping of the retrospective clause in the 2012 tax amendment. The UK-based company, which won $1.2 billion in an arbitration award against India, is looking to settle the dispute and could meet … Read more
(This story originally appeared in on Aug 06, 2021) NEW DELHI: The government is hoping that the amendments to the retrospective taxation provision – which are aimed at ensuring prospective application of the provisions – will end a long-pending concern and help companies and the Centre make a fresh start once both parties end litigation. … Read more
LONDON/MUMBAI: Shares of NRI billionaire Anil Agarwal-led Vedanta Resources on Friday plunged 5.59 per cent on the London Stock Exchange amid talk that it may acquire a majority stake in the Indian arm of Cairn Energy. In the late afternoon session, the scrip was being traded at 20.61 pounds, down by 5.50 per cent on … Read more