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Cairn case: French court orders government s Paris properties frozen

Cairn case: French court orders government’s Paris properties frozen © Provided by The Times of India NEW DELHI: A French court has ordered a freeze on residential properties owned by the Indian government in central Paris, in what is seen as a setback for the Centre in its tax dispute with London-listed Cairn Energy Plc. Tribunal judiciaire de Paris’s ruling based on Cairn Energy’s application will impact some 20 properties, valued at more than 20 million euros (Rs 177 crore), as part of a guarantee of the debt owed to the British company that exited India a few years ago. Some of the properties are in the 16th Arrondissement of Paris, which is one of the wealthiest areas in the city.

Top headlines: Zomato investors expect IPO bonanza; bonds rally on RBI word

Zomato s IPO is expected to be a winning bet for the company s private equity investors and early backers. Bonds rally after the Reserve Bank of India indicates that its accommodative policies would continue. Here are the top headlines at this hour. Zomato s Rs 9,375-crore IPO to bring bonanza for Info Edge, Sequoia, Goyal Zomato’s much-awaited initial public offering (IPO) has turned out to be a major winning bet for several private equity (PE) investors and early backers of the online food delivery company. The existing shareholders of the company are set to make gains in the range of 50 per cent to 6,450 per cent on their investments as India’s first major e-commerce company launches its Rs 9,375-crore maiden offering next week. Read more.

Cairn Energy case: French court orders government s Paris properties frozen | India Business News

NEW DELHI: A French court has ordered a freeze on residential properties owned by the Indian government in central Paris, in what is seen as a setback for the Centre in its tax dispute with London-listed Cairn Energy Plc. Tribunal judiciaire de Paris’s ruling based on Cairn Energy’s application will impact some 20 properties, valued at more than 20 million euros (Rs 177 crore), as part of a guarantee of the debt owed to the British company that exited India a few years ago. Some of the properties are in the 16th Arrondissement of Paris, which is one of the wealthiest areas in the city.

Cairn Energy tax dispute India: All you need to know | India Business News

Cairn Energy tax dispute India: All you need to know | India Business News
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