South Asia and Beyond

Retro tax: Cairn Targets Indian Firms

The UK’s Cairn Energy PLC plans to target Indian state owned firms and banks to recover $1.2 billion plus interest and penalties after winning an arbitration against levy of retrospective taxes. Cairn has already targeted the assets of Air India with a plea filed in a New York court. Air India has until July to file a plea against the Cairn lawsuit.

Nitin A Gokhale WhatsApp Channel

Related