During a series of hectic talks between Cairn Energy and the Indian government over the $1.2-billion arbitration award in favour of the former last week, a slew of options was proposed by the two sides, including computation of capital gains and participation in the Vivad se Vishwas (VsV) dispute resolution scheme. The government is likely to go ahead and appeal against the arbitration award by a Permanent Court of Arbitration at The Hague before March 21, indicated finance ministry officials. Cairn Energy Plc on Sunday said it was hopeful that an acceptable solution to its tax dispute with the Indian government could be found to avoid prolonging and exacerbating the 'negative issue' for all parties.
Further relaxation in aircraft capacity deployment coupled with festive season air travel demand helped recovery in the domestic traffic with passenger volume seeing 22 per cent sequential growth in the previous month, ratings agency ICRA said on Wednesday. ICRA also said that the November domestic passenger traffic was close to 50 per cent of the domestic air travel demand in November 2019. The recovery in international passenger traffic, however, is likely to further get delayed in the wake of fresh travel curbs by select countries following the detection of a new virus strain in the UK, it said.
UK's Cairn Energy Plc has offered to forego $500 million and invest that amount in any oil and gas or renewable energy project identified by the Indian government if New Delhi agrees to honour an international arbitration award and returns the value of loss it incurred because of being taxed retrospectively, sources said. The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan. In 2006-07, it listed its Indian assets on the BSE. Five years after that the government passed a retroactive tax law and billed Cairn Rs 10,247 crore plus interest and penalty for the reorganisation tied to the flotation.
The UK judge who handed down his judgment on Thursday in favour of the extradition of Nirav Modi to face charges of fraud and money laundering in India said he had found no evidence of adverse political influence in the case, as claimed by the diamond merchant's legal team.
British oil firm Cairn Energy Plc on Tuesday said it has identified Indian sovereign assets overseas, which it can seize in the event of New Delhi failing to return over USD 1.7 billion that an international arbitration tribunal has ordered after rescinding a retrospective tax demand.
Diaspora groups in the UK urged for calm and advised non-resident Indians and people of Indian origin to follow the new lockdown rules, which mean a majority of the UK is under the strictest lockdown with all non-essential businesses now closed.
India is believed to have challenged in a court in The Hague an arbitration tribunal verdict that overturned its demand for Rs 10,247 crore in back taxes from Cairn Energy Plc -- the second time in three months that it has refused to accept an international award against retrospective tax.
Cricket West Indies interim chairman of selectors, Robert Haynes said the selection panel included Allen on the back of his performance at the Caribbean Premier League (CPL) last year and recently at the ICC Men's Cricket World Cup 2019.
Johnson will instead speak to Prime Minister Narendra Modi later this month to launch their plans for the future UK-India partnership, with their physical meeting expected later in the year.
The Indian State does not believe in the rule of law. It does not even recognise the need to follow treaties that it itself signed. And so it is refusing to shell out to Cairn; and, as a consequence, has brought on the Paris humiliation, notes Mihir S Sharma.
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
Queen Elizabeth II had an impromptu lesson in Indian dance mudras, or ritual hand gestures, when the 90-year-old monarch met celebrated dancer and choreographer Arunima Kumar at the Buckingham Palace.
A coronavirus positive woman allegedly managed to give the slip to authorities in New Delhi after her arrival from London and reached Andhra Pradesh by train only to be picked up by authorities and admitted to a hospital.
The UK India Business Council expects more emphasis to be put on improving bilateral economic ties.
India will miss Pant in World Cup, said Ganguly
Cairn said it had initiated arbitration.
Indian captain Virat Kohli says opposition hardly matters in the ICC Champions Trophy semi-finals and final even though an India-England final is what everybody seems to want.
Pant and Rayudu's exclusion from the squad of 15 had created quite a stir on Monday. While Sunil Gavaskar called Pant's omission surprising, the snub to Rayudu was questioned by Gautam Gambhir.
The European Union on Tuesday decided to lift a ban on the import of mangoes from India after the country made improvements in plant health controls and certification system, clearing the way for them to return to the 28-member bloc.
Cairn Energy of UK is seeking compensation from the Government of India.
'Gone too soon, Astad, but I know whenever we meet in that world beyond, I will watch you dance.' Swarupa Dutt remembers a remarkable human being and a magnificent performer who left the world poorer when he passed into the ages on Thursday.
These graduates will have the opportunity to spend a year training and working for TCS at its Innovation Labs and software development centres across India between 2016 and 2020.
Ten British students from various universities have begun their work experience with Indian companies on winning the UK-India Business Council Scholarship scheme 2009. The 10 students have secured paid work experience with a range of companies based in India from banks to social enterprises. The scholarship offers an opportunity to gain work experience in an emerging market and adds to their attractiveness as a potential employee.
TechHub, which seeks to promote an exchange of ideas and forging of collaborations, was inaugurated by Nick Clegg, deputy PM, UK.
The installation work is expected to begin in October.
India's case for NSG membership is also being strongly pushed by the US, which has written to other members to support India's bid at the plenary meeting of the group expected to be held in Seoul on June 24.
India maintains that the Kashmir issue is a bilateral one and no third party has any role in it.
Recognising that 'trade' and 'takeovers' have become the buzzwords in UK-India relations in recent years, a key House of Commons committee wants the Labour government to forge a 'special relationship' with India. The committee, comprising MPs across party lines, is chaired by the Conservative MP from Mid Worcestershire Peter Luff. The committee noted that there were several hurdles in India to further growth, but declared that not all the barriers are on the Indian side.
A joint research programme between the Indian Institute of Tropical Meteorology (IITM) and the University of Reading, UK on `Science of Regional Climate Change, Variability and Impacts`, has been selected for a `Major Award` under the UK-India Education and Research Initiative (UKIERI).
'Try to get in 30 to 60 minutes of a brisk walk every day, like my grandparents would do in the village -- twice a day they would go for morning walks and they would go after dinner.'
UK India British Council has set up an advisory board to boost trade relations between the two nations.
His vision drove ITC to pursue business models that today support over 6 million livelihoods, many amongst the weakest in society.
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
Vedanta to file notice of claim in Cairn India tax case.
With Indian businesses investing £ 1.02 billion into the UK, India now ranks as the third largest foreign investor in the UK globally, and the second largest from the Asia Pacific region.\n
"The tragedy of Jallianwala Bagh of 1919 is a shameful scar on British Indian history," May said.
The UK has responded to PM Modi's call to 'Make in India' by launching great collaborations in January 2015.
The survey, conducted by Australian workforce managers Kronos across Australia, China, France, the UK, India, Mexico and the US, found China taking first place at 71 per cent, followed by India at 62 per cent and then Australia at 58 per cent.
Boosting trade and simplifying visa regime, apart from security and defence cooperation, were among the key bilateral issues. The two leaders also discussed regional and international matters of mutual interest.
Prime Minister Narendra Modi said India and the United Kingdom are economically made for each other.
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