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
India
Terrorist Attack in J& K kills more than 40 Security Personnel , Many injured; worst terror strike since Uri
India withdraws Most Favored Nation status given to Pakistan United Nations and US condemn the attack Police say the 21-year-old suicide bomber driving the explosive-laden vehicle was Adil Ahmad from Kakapora in Pulwama who joined […]
Health
Natural ways to increase your glutathione levels
Glutathione is a powerful antioxidant that’s made up of three amino acids — cysteine, glutamic acid, and glycine. As we age, our body’s ability to produce complex compounds like Gutathione can slow down and become […]
United States
Senate Republicans block Jan. 6 commission in victory for Trump
WASHINGTON (TIP): Senate Republicans blocked legislation Friday, May 28, that would have launched a 9/11-style commission on the Jan. 6 attack at the U.S. Capitol, affirming they want to turn the page on the dark […]
Be the first to comment