Cairn Energy seeks $1.4 billion from government in losses from retro tax demand
NEW DELHI: British oil explorer Cairn Energy Plc on Tuesday said it is seeking from the Indian government $1.4 billion (about Rs 10,300 crore) in losses arising from the expropriation of its investments to enforce a retrospective tax demand.
In its half-yearly earnings statement, the company said it expects an international arbitral tribunal to shortly give a decree on its challenge to the Indian government seeking Rs 10,247 crore in retrospective taxes.
