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Cairn India News
Cairn tax dispute: I-T dept confiscates dividend, refund
Mon, Jun 19, 2017
The Income Tax Department has ordered coercive action against Cairn Energy of UK, including taking away over Rs 2,000 crore dividend and tax refund, to recover part of the Rs 10,247 crore retrospective tax.
Vedanta completes Cairn merger
Tue, Apr 11, 2017
In July last year, Vedanta had sweetened its merger proposal to win over minority shareholders like LIC.
Vedanta announces Rs 6,580 crore dividend payout
Thu, Mar 30, 2017
The board of directors of the company have also approved the second interim dividend of Rs 17.70 per equity share i.E. 1,770 per cent on face value of Re1 per share for the financial year 2016-17, the company said.
RBI approval left for Cairn-Vedanta merger; shares gain
Tue, Mar 28, 2017
Cairn, in a BSE filing on Tuesday said, "The company has now received all the required approvals in relation to the scheme of arrangement between Vedanta Limited and Cairn India and their respective shareholders and creditors ('Scheme'), save and except the approval of RBI for issuance of redeemable preference shares to the non-resident shareholders of Cairn India."
Hindustan Zinc special dividend credit positive for Vedanta Resources: Moody's
Sat, Mar 25, 2017
Once complete, Vedanta Ltd will have access to Cairn India's large cash balance of USD 3.6 billion and its future cash flow.
Shares of Vedanta and Cairn India gains after receiving NCLT nod on merger
Thu, Mar 23, 2017
Vedanta in a BSE filing said, “The National Company Law Tribunal has approved the scheme of arrangement between Vedanta and Cairn India, and their respective shareholders and creditors ('Scheme').
Cairn liable to pay Rs 10,247 crore capital gains tax: ITAT
Sat, Mar 11, 2017
The tribunal also said that Cairn India should have withheld tax on capital gains made by its parent company.
Vedanta to invest $10 billion on expanding business
Sun, Feb 19, 2017
"We have the potential to spend $10 billion over a period of five years; we are looking at 3,50,000 barrel of oil... To have 100,000 barrel equivalent to gas. We are looking to integrate 3 million tonnes capacity for the aluminium," the mining baron told PTI in a telephonic interview.
Cairn India gets nod for drilling 64 exploratory, appraisal wells in KG-Basin
Tue, Jan 17, 2017
A committee under the Ministry of Environment, Forests and Climate Change has given a green signal to Cairn India for undertaking drilling works of 64 exploratory and appraisal wells in KG-OSN-2009/3 block in KG basin at Prakasam and Guntur districts of Andhra Pradesh.
India gets six more weeks to respond to Cairn Energy arbitration
Sun, Nov 20, 2016
Its counsel argued that the government wants the arbitration initiated by Vedanta to be taken up first.
Cairn writes to Modi on tax dispute ahead of UK PM's visit
Mon, Nov 07, 2016
The government, using retrospective tax legislation, had in January 2014 issued a tax notice on Cairn Energy for alleged capital gains it made on a 10-year old internal reorganisation of its India unit.
ONGC, Cairn face Rs 730 crore service tax on royalty payments
Thu, Nov 03, 2016
Companies currently pay 9.09% of the price they realise on oil and gas produced from onland.
Vedanta's Q2 net profit grows 17% to Rs 1,251 crore
Fri, Oct 28, 2016
The company stated that the board of directors at its meeting held on October 28 declared an interim dividend of Rs 1.75 per share.
Delhi High Court dismisses Cairn India plea on crude export
Tue, Oct 18, 2016
Oil and Gas Company Cairn India’s plea to export crude oil from its Barmer oil field in Rajasthan was rejected from Delhi High court on Tuesday. The court said that Cairn can invoke dispute resolution mechanism.
Vedanta Resources pays nearly Rs 13,306 crore in royalties, taxes to India in FY16
Mon, Oct 03, 2016
Mining giant Vedanta Resources has paid more than $2 billion (nearly Rs 13,305.5 crore) in taxes, royalties, licence fees and other payments to India in the last financial year ended March 2016.
Cairn India shareholders approve merger with Vedanta
Mon, Sep 12, 2016
The Bombay High Court had passed an order in July asking the company to have a meeting of equity shareholders with regards to the decision to merge Cairn India with Vedanta.
Vedanta-Cairn merger gets shareholders nod
Tue, Sep 06, 2016
It said in the statement,"Vedanta Resources plc announces that at its General Meeting held today, Tuesday 6 September, the resolution put to shareholders in relation to the proposed merger of Vedanta Limited and Cairn India Limited (the "Merger") was duly passed on a poll."
Vedanta Resources aims to close merger with Cairn India in early 2017
Sat, Aug 06, 2016
The deal, which will give Vedanta access to oil and gas explorer Cairn India`s $3.5 billion cash pile, has faced opposition from some big minority shareholders, including British-based Cairn Energy, but Albanese said he did not foresee obstacles.
Vedanta-Cairn India merger: Is it really a sweet deal?
Tue, Jul 26, 2016
Minority shareholder will be implied to a premium of 20% to one month Volume-Weighted Average Price (VWAP) of Cairn India share price.
Vedanta sweetens Cairn merger deal; makes 1+4 offer for shareholders
Sat, Jul 23, 2016
In an attempt to salvage the merger of cash-rich oil firm Cairn India with its debt-laden parent Vedanta Ltd, the company on Friday sweetened the deal by offering three additional preference shares in hope of winning over minority shareholders like Life Insurance Corporation of India (LIC).