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
Indian Americans
Indian American gas station owner is target of racist attack
ASHLAND, KY(TIP): Monday, August 6, was a day Taj Sardar, the owner of a Shell gas station in Ashland, will never forget after an off-duty Portsmouth ambulance employee went on a racist rant on his […]
As I See It
Black Sea deal to ease global food challenge
“There has been rise in food and fuel prices, as well as supply chain issues, as the mountains of grain stocks remained stuck in silos. It shows the enormous cost of allowing the conflict to […]
Science & Technology
Apple iOS 16, iPadOS 16 public beta now ready for download
Apple has officially made the first public beta versions of iOS 16 and iPadOS 16 available for all users on Monday. The final version of iOS 16 and iPadOS 16 will be rolled out to […]
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