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Cairn on November 26 withdrew the lawsuit it had brought in Mauritius for recognition of the arbitration award and took similar measures in courts in Singapore, the UK and Canada. ....
The assets identified range from Air India s planes to vessels belonging to the Shipping Corporation of India, and properties owned by state-owned banks to oil and gas cargoes of PSUs ....
In 2006-07, it listed its Indian assets on the BSE. Five years after that the government passed a retroactive tax law and billed Cairn Rs 10,247 crore plus interest and penalty for the reorganisation tied to the flotation ....
» India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade but the tax department may not have given up yet India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade but the tax department may not have given up yet Sriram IyerDec 24, 2020, 11:12 IST The Indian government had a claim of over $2 billion at the start of this decade on Cairn India for unpaid taxes. 2020 ends with India losing the case. This arbitration with Cairn was one of the defining episodes of the last decade in India that contributed significantly to shaping the economy, and to some extent, the politics as well. ....