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

Finance Minister Nirmala Sitharaman on Thursday introduced a Bill in Parliament to nullify the provision in the Income Tax Act. The Bill would withdraw the retrospective amendments to the Income Tax Act that raised demands on Vodafone, Cairn, indicating a move to attract foreign investments.

Finance Minister Nirmala Sitharaman introduces bill to nullify the provision in the Income Tax Act

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

Finance Minister Nirmala Sitharaman introduces bill to nullify the provision in the Income Tax Act