Cairn Energy Plc is considering settling a protracted tax dispute with the Indian government to fetch the UK oil explorer tax refunds totalling $1.06 billion.
- Macrotech Developers Shares Slipped 5% Amid Abhishek Lodha’s Lawsuit Against Abhidandan Lodha
- Maharashtra State Government Inks MoU’s Worth Rs 6.25 Lakh Crore with Indian Companies
- Swiggy Zomato Shares Slump Over Growing Competition
- Stocks Under F&O Ban: Dixon Tech (India), Mahanagar Gas, L&T Finance, and Others
- India to Bring Back 18,000 Citizens from US to Appease Trump
On Tuesday, the company said it is considering entering into statutory undertakings with the government of India under a new law, clearing the way for the release of its assets seized since 2014.
The refund will allow Cairn Energy to return funds to its shareholders through dividends and stock buybacks and further expand its business, the company said.