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Retrospective tax: After Vodafone, India loses Cairn arbitration case
The international tribunal also ruled that India’s demand of $1.2 billion in retrospective tax was “in breach of the guarantee of fair and equitable treatment”. December 24, 2020 3:50:01 am
The Cairn India Ltd. logo is displayed on a sign outside the venue of the company s annual general meeting in Mumbai, India, on Thursday, Aug. 18, 2011. (Photographer: Adeel Halim/Bloomberg)
Cairn Energy Plc won a major relief on Wednesday as the Permanent Court of Arbitration at The Hague ruled that the Indian government’s retrospective tax demand against the global oil and gas major was “inconsistent” with the UK-India bilateral treaty.
Cairn Energy wins arbitration in tax spat with Indian government
Cairn Energy wins arbitration in tax spat with Indian government
Cairn Energy’s victory will be a second loss for India in an international arbitration after Vodafone Group Plc won a years-long tax dispute with the Indian government in September over a controversial $3 billion tax demand. Updated: December 23, 2020 12:14:18 pm
The Cairn India Ltd. logo is displayed on a sign outside the venue of the company s annual general meeting in Mumbai, India, on Thursday, Aug. 18, 2011. (Photographer: Adeel Halim/Bloomberg)
Cairn Energy Plc won an
arbitration over tax dispute with Indian government, serving a double-blow to Prime Minister Narendra Modi’s government after a similar loss against Vodafone Group Plc.
Franklin Templeton Mutual Fund’s six shut schemes generate Rs 11,907 crore since closure in April
Franklin Templeton Mutual Fund had shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.
By: PTI | New Delhi | December 17, 2020 2:36:11 pm
A motorcylist passes in front of the Franklin Templeton Investments building in Hyderabad, India, on Wednesday, Sept. 29, 2010. (Photographer: Adeel Halim/Bloomberg)
Franklin Templeton Mutual Fund on Thursday said its six shut schemes have received Rs 11,907 crore from maturities, pre-payments and coupon payments since closing down in April.
Franklin Templeton MF had shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.