InvestorQ : What are the next steps to close out the Cairn retrospective tax case?
Lavanya Subramanian made post

What are the next steps to close out the Cairn retrospective tax case?

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Anamika Sodhani answered.
3 weeks ago
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The retrospective tax issue may finally be reaching its logical conclusion. Cairn Energy PLC and other players have already approached the Indian government to settle their cases under the special scheme offered. Cairn has given an undertaking that it would revoke all legal cases and claims and the Indian government has accepted this assurance.

Under the amicable settlement deal, government of India will refund Rs.7,880 crore withheld from Cairn. These were withheld out of shares and dividends as well as tax refunds. The dues to the others are much smaller. Under the new scheme, these companies can settle cases over the next 30-60 days period.

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