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
Sports News
Yogeshwar Dutt leads protest against exemption for six
The decision of the ad hoc committee of the Indian Olympic Association (IOA) to exempt wrestlers who had sat on a protest from the full selection trials for Asian Games was slammed on Friday by […]
Astrology
Monthly Horoscope- May 2023
Aries Ganesha says that there will be mental disturbance this month. For some reason, the mind will remain restless. Due to the rudeness of your nature, the situation of confusion will increase. In the beginning, […]
E-Edition
December 9 New York & Dallas E – Edition
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