Britain’s Cairn Energy Plc has withdrawn lawsuits against the Indian government and its entities in the US and UK in the retro tax case.

Cairn Energy withdraws cases from US, UK in retro tax case

Cairn Energy Plc is considering settling a protracted tax dispute with the Indian government that will fetch the UK oil explorer tax refunds totalling $1.06 billion.

Cairn Energy Plc is considers settling protracted tax dispute with Indian government

United Kingdom-based oil and gas company Cairn Energy said that it would drop cases to seize Indian properties in foreign countries after getting a tax refund of $1.06 billion (Rs 7,900 crore) from the Union government.

Cairn Energy to drop cases against India after getting a tax refund of $1.06 billion

UK-based Cairn Energy has agreed to take back all cases against India within a couple of days of getting a $1 billion refund resulting from the scrapping of a retrospective tax law.

Cairn accepts $1 bn refund offer to drop cases against India

The Indian government has decided to appeal a 1.2 billion dollar arbitration award won by the British energy giant. It will now contest all cases far back in various international courts.

India to challenge cairn arbitration award | Cairn energy-Indian government dispute

The action comes ahead of the beginning of the final hearing in the arbitration initiated by Cairn to oppose the retrospective tax demand.

IT dept seizes Rs440 crore dividend income of Cairn Energy

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