UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a $1-billion refund resulting from the scrapping of a retrospective tax law. The firm termed “bold” the legislation passed last month to cancel a 2012 policy that gave the tax department power to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India.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 in an interview from London
World
Drought has killed 205 Kenyan elephants in 10 months, minister says
Nairobi (TIP): Drought in Kenya killed 205 elephants and scores of other wildlife between February and October as much of East Africa endures its worst drought in 40 years, tourism minister PeninahMalonza said on November […]
Indian Americans
Indian -origin Manpreet Monica Singh is the first female Sikh judge to be sworn in US
HOUSTON (TIP): Indian-origin Manpreet Monica Singh has been sworn in as a Harris County judge, becoming the first female Sikh judge in the US. Singh was born and raised in Houston and now lives in […]
Europe
FOUR INDIANS FIGURE IN THE TOP 100 GLOBAL RICH LIST
LONDON (TIP): Four Indians have made it to the top 100 global rich list, as the country records for the first time more billionaires than Britain and Russia. The world now has a record […]
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