Cairn India Limited News, Corporate filings and Earnings/Conference Calls

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12 Sep 2016

AGM

Disclosure of Voting results of Court Convened Meeting & Postal Ballot (Regulation 44(3) of SEBI (LODR) …

BSE India

Cairn India Ltd has informed BSE regarding the details of Voting results of Court Convened Meeting & Postal Ballot, under Regulation 44(3) of SEBI (LODR) Regulations, 2015 along with Scrutinizer's Report.Further, the Company has issued a copy of Press Release dated September 12, 2016 titled "Shareholders approve merger of Cairn India Limited with Vedanta Limited".

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Cairn India Limited

11 Sep 2016

Merger with Vedanta: Will Cairn's minority shareholders ink a raw deal?

Business Line

Cairn India shareholders meet today; even the sweetened share-swap plan appears unfair

Cairn India Limited

09 Sep 2016

Cairn-Vedanta merger gets LIC backing

livemint

LIC believes the merger with Vendanta Ltd will insulate Cairn India from potential risks arising from its single line of business

Centre to submit decision on extension of Barmer oil contract by October 14

Business Standard | 10 Sep 2016 1 more

Cairn India Limited

07 Sep 2016, 08:20PM

Vedanta EGM to seek Cairn deal okay on Thursday

Business Standard

Legal, investor relations teams will meet shareholders in Goa; Cairn India EGM on Monday

Cairn India Limited

01 Sep 2016

Cairn-Vedanta Deal: Advisory firms have mixed views

Economic Times

The contention is that the merger terms announced in June 2015 were revised. The changes included Cairn India shareholders' preference shares going up from one to four.

Cairn India Limited

25 Aug 2016

Cairn tax dispute: India has to respond by Nov on $5.6 bn compensation demand, says CEO

Zee Business

India has time till November to respond to Cairn Energy's demand for USD 5.6 billion compensation in the retrospective tax case, said CEO of the British oil firm, Simon Thomson.

Cairn India Limited

23 Aug 2016

Company Update

Schedule of Investor Road Shows

BSE India

Cairn India Ltd has informed BSE that the Company has organized Investor Road Shows on August 22 and 23, 2016, in Singapore and Hong Kong.

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Cairn India Limited

20 Aug 2016

Vedanta, Cairn India say talks with minority shareholders on merger encouraging'

Economic Times

Minority shareholders of Cairn India had previously expressed doubt over the advantages of a diversified conglomerate.

Vedanta, Cairn India say talks with minority shareholders on merger encouraging'

Economic Times | 20 Aug 2016

Cairn India Limited

16 Aug 2016

Cairn initiates arbitration to seek compensation from India

Economic Times

LONDON: British explorer Cairn Energy plc today said it has initiated an international arbitration to seek $5.6 billion in compensation from the Indian government in case a retrospective tax demand of Rs 29,047 crore is not quashed. In its half-yearly earnings statement, the company said its subsidiary Cairn UK Holdings Ltd has received an assessment order from the Indian Income Tax Department relating to the intra-group restructuring undertaken in 2006 prior to the IPO of its India unit, which cites a retrospective amendment to Indian tax law introduced in 2012. "Cairn strongly contests the basis of this attempt to retrospectively tax the group for an internal restructuring," it said in the statement. The assessment order levies a tax of Rs 10,247 crore plus Rs 18,800 crore of interest back dated to 2007. "The total assets of CUHL have a current value of $475.2 million (about Rs 3,180 crore), comprising principally the group's 9.8 per cent shareholding in Carin India Ltd and any recovery by the Indian authorities would be limited to such assets," the statement said. Cairn said it is pursuing its rights under Indian law to appeal the assessment, both in respect of the basis of taxation and the quantum assessed. "CUHL's 9.8 per cent shareholding in Cairn India was originally attached by the Income Tax department in January 2014 and CUHL continues to be restricted from selling such shares," it said. Cairn said it has commenced international arbitration proceedings under the UK-India Bilateral Investment Treaty on the basis that India's actions have breached the...

Cairn India Limited

14 Aug 2016

Tax row: Vedanta names James Spigelman to represent its case

Economic Times

NEW DELHI: Vedanta Resources has named London-based arbitrator James Spigelman to represent its case in international arbitration involving tax demand of over Rs 20,495 crore on its unit, Cairn India. The government has named Donald McRae, a member of the UN International Law Commission, to defend itself in the arbitration initiated by the London-listed Vedanta under the India-UK Bilateral Investment Protection Treaty, sources said. The Singapore-based senior counsel and chartered arbitrator Michael Hawng will be the chairman and neutral judge of the three-member arbitration panel. In April 2014, Cairn India was slapped with a tax demand of Rs 20,495 crore for failing to deduct withholding tax on alleged capital gains made by its erstwhile parent company, Cairn Energy, in 2006-07 when it reorganised its India operations. The tax notice on Cairn India came three months after the Income-Tax Department issued a Rs 10,247-crore tax notice on Cairn Energy in January 2014 using a retrospective tax legislation. In February this year, the department issued a final assessment order seeking Rs 29,047 crore in tax from Cairn Energy, including Rs 18,800 crore in interest. While Cairn India had moved the Delhi High Court against the tax demand in April last year, Vedanta sought resolution of the dispute under the bilateral investment protection treaty, the sources added. Both Cairn India and Vedanta are contesting the tax demand. Cairn Energy, too, has initiated a separate arbitration against the tax demand, and the three-member arbitration panel headed by Geneva-based arbitrator Laurent Levy held its first procedural hearing in Paris a few...

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