Newsmakers: IITs to raise UG courses fee, Rajan on exchange rate and more - Photos-1
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Newsmakers: IITs to raise UG courses fee, Rajan on exchange rate and more

Key business news events for the day
Cairn Energy faces Rs 10,247-crore fine
British oil explorer Cairn Energy Plc faces up to Rs 10,247-crore penalty over and above the Rs 29,000 crore in tax and interest demand slapped on it by the I-T Department using a retrospective legislation. In a circular to shareholders, the company said it had on February 4 received "a final assessment order from the Indian Income Tax Department in amount of Rs 10,247 crore plus interest back dated to 2007 totalling Rs 18,800 crore.
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