Cairn Energy

Cairn Energy


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Cairn Energy had won an international arbitration award against levy of Rs 10,247 crore tax and sought to take over Air India assets when the government refused to honour the award and pay it $ 1.2 billion-plus interest and penalty

$1.2 bn arbitral award: Cairn, Air India seek stay on New York court proceedings

Sep 15, 2021

The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn

Cairn settlement to be a confidence booster for foreign investors

Sep 08, 2021

 The move comes a month after the government enacted a new law to drop Rs 1.1 lakh crore in outstanding claims against multinationals such as telecom group Vodafone, pharmaceuticals company Sanofi, brewer SABMiller and Cairn Energy.  The agreement is a major victory for the Modi government’s effort to make India more investor friendly.

Devas Multimedia shareholders said the reports of a $1 billion settlement between the government and the UK-based Cairn Energy PLC were encouraging

Post Centre-Cairn settlement, Devas to pursue enforcement of $1.2 bn arbitral award

Sep 08, 2021

Stakeholders of Devas are presently pursuing cases in numerous courts worldwide, comprising those in the US and the UK to push India to pay them $1.3 billion in damages for terminating a 2005 agreement


Cairn accepts $1 bn refund offer, to drop litigations against India: CEO

Sep 07, 2021

The offer to return money seized to enforce retrospective tax demand in lieu of dropping all litigations against the government "is acceptable to us," Cairn CEO Simon Thomson said

Cairn Energy

Cairn Energy to return up to $700 mn to shareholders if India dispute resolved

Sep 07, 2021

The company said it was considering entering into statutory undertakings with the Indian government over changes to retrospective tax laws at the heart of the row between the two.

Post the 2012 amendment, several investors approached international investment tribunals to seek redressal

India withdraws retro tax: What Next?

Sep 03, 2021

Incorporation of international best practices in tax law and administration can help place India at the peak of foreign investments, giving a further boost to the aspirations to the 1.2 billion strong nation

Cairn is looking to seize Air India’s assets

Govt likely to absolve Air India bidders from Cairn lawsuit liabilities

Sep 01, 2021

Meanwhile, the government expects to receive financial bids by September 15, as mentioned by junior Civil Aviation Minister VK Singh in the parliament

 Cairn Energy filed a petition in the New York court to seek that the Indian government be made liable to pay the $1.26 billion arbitral award

Air India asks US court to dismiss Cairn plea, says it is premature

Aug 29, 2021

Cairn's petition to confirm the award is pending in the District Court for the District of Columbia," Air India said in the August 23 petition

Britain's Cairn Energy had in May asked the US federal court to force Air India to pay the $ 1.26 billion arbitration award the firm had won in December

$1.2 bn arbitral award: US court sets timelines for Cairn-India legal case

Aug 28, 2021

Judge Richard J Leon of the US District Court for the District of Colombia has given Cairn time till September 10 to file a response to the government's 'Motion to Dismiss' petition

Cairn had in May asked a US federal court to force Air India to pay a USD 1.26 billion arbitration award the firm had won in December

India asks US court to reject Cairn Energy's $1.2 billion suit; cites 'sovereign immunity'

Aug 17, 2021

The government on August 13 filed a ''Motion to Dismiss'' petition in the US District Court for the District of Colombia, saying it lacked subject matter jurisdiction in the dispute between Cairn and the Indian tax authority

The move has been welcomed by several businesses and economists as it supports recovery of the economy by attracting investments (Source:Reuters)

Govt to refund over Rs 8000 cr under new taxation laws: CBDT chairperson

Aug 10, 2021

The Taxation Laws (Amendment) Bill 2021 was passed in Rajya Sabha on Monday. The bill proposes amendments to the Income Tax Act, 1961 and does away with the contentious practice of retrospective tax