Firm to continue to press ahead with arbitration challenging new law on the tax, will seek $1 bn in damages
Kapoor, who joined Vodafone a year back from Cairn India, resigned citing family commitments, Vodafone India said in a statement.
India is massively underexplored, says Rahul Shir, CEO, Cairn India.
Vodafone is facing tax liability over its $11 billion acquisition of a 67 per cent stake in the mobile-phone business owned by Hutchison Whampoa in 2007.
UK-based oil firm Cairn Energy plans to create a separate unit out of its Indian operations and sell at least 25 per cent shares of the new firm through an initial public offering.
British energy firm Cairn Energy Plc plans extensive exploration over the next 18 months its Rajasthan block, the site of India's largest oil discovery in almost two decades.
ONGC to take biggest hit of Rs 4,600 crore, followed by Cairn India and Oil India.
British energy firm Cairn Energy Plc on Tuesday said it has discovered gas in its Rajasthan block, where India's largest oil find in more than two decades was made last year.
The 33-year-old Cairns is nursing a hamstring injury he suffered while bowling in the opening game against India.
New Zealand Cricket have promised to support Brendon McCullum after former Test all-rounder Chris Cairns was acquitted of perjury in London despite evidence given against him by the Black Caps captain.
Putting aside the plan for setting up a greenfield refinery in the state, Cairn Energy India, in a joint venture with ONGC, is planning to build a 500-km pipeline to evacuate crude oil from the Mangala, Bhagyam, and Aishwarya fields.
Debt management is going to be a worry for the Vedanta group until FY25 at least. However, the restructuring of business divisions in Vedanta India could lead to an unlocking of values. The group structure is fairly complex. Anil Agarwal-led Vedanta Resources (VRL), which is London-listed, has a lot of debt on the balance sheet. It will have to repay $1 billion in secured bonds by January 2024 and at least another $300 million in calendar 2024.
10 Indian companies are holding as much as Rs 2.34 lakh crore (Rs 2.34 trillion).
Indian lenders are unlikely to clear the vertical split of BSE-listed Vedanta Ltd in a hurry, considering that the demerger would reduce the fungibility of cash flows across businesses and increase their volatility, according to analysts. The demerger plan, which would result in six separate listed entities, would require approval from shareholders, lenders and other statutory bodies. "We believe that a separate listing of different businesses would reduce the fungibility of cash flows across businesses and increase the volatility of cash flows.
Brokerages put sell notice on Vedanta shares over the company's move to buy Volcan Investments' stake in Anglo American via subsidiary Cairn India Holdings, reports Aditi Divekar.
Cairn Energy India's initial public offering of 32.88 crore (328.8 million) shares will open on December 11 and close on December 15 at a price band of Rs 160-190 per share.
Analysts refuse to read too much into the early birds numbers.
Transparency is more than welcome, but govt should not look vindictive.
UK-based Diageo's acquisition of 53.4 per cent stake in Vijay Mallya-led United Spirits for Rs 11,166.5 crore ($2 billion) could be the biggest inbound M&A deal so far this year.
Cairn India, which is the operator of the block with 70 per cent stake, does not have to pay any royalty. At $50 per barrel crude oil price, the royalty outgo over the entire life of the field would be Rs 16,209 crore (Rs 162.09 billion) -- Rs 4,862.7 crore (Rs 48.62 billion) on its share and Rs 11,346.3 crore (Rs 113.46 billion) on behalf Cairn.
British oil firm Cairn Energy Plc on Tuesday announced a second significant oil discovery in its Rajasthan block, where it had in January found India's largest field in more than two decades.
No period in the recent history of Indian oil and gas sector will perhaps leave its long- lasting imprint than 2010 that saw the unfolding of two events that could shape the future of this fast growing sphere.
New Zealand Cricket medical co-ordinator Warren Frost believes he needs to prove his fitness in domestic cricket before returning to the international game.
World rapid champion Koneru Humpy claimed her second title in the last two months by emerging triumphant at the Cairns Cup chess tournament following a draw against compatriot Dronavalli Harika in the ninth and final round, in St Louis, United States. Humpy, who was crowned World champion in December, finished the tournament with six points. The icing on the cake was that Humpy will gain five ELO rating points (the basis for international rankings) and move to second place in the world rankings.
UK oil explorer Cairn Energy is facing a tax demand of Rs 10,247 crore and Vodafone over acquisition of 67% stake in the mobile business owned by Hutchison Whampoa in 2007
Finance Minister Arun Jaitley, in his Budget speech on Monday, announced a new dispute resolution mechanism for such companies who are in confrontation with the taxman's action.
As the government began consultations with stakeholders on raising gas prices, gas producers and consumers met a committee of secretaries separately with their pleas on the issue.
The way the government treated miner Vedanta Resources' proposal to buy majority of UK's Cairn Energy in Cairn India and RIL selling 30 per cent of its stake in 23 properties, including the prolific KG-D6 gas block to BP, goes to the heart of the mistrust between India Inc and United Progressive Alliance-2 in 2011.
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
The Kiwis are among 18 more players who signed up with the rebel league.
The government must rein in its tax officers.
Domestic deals were the flavour of the month as there were 20 such transactions worth $2.77 billion in June 2015.
The proposed takeover of Cairn Energy's India business could see Non-Resident Indian billionaire Anil Agarwal emerging as the richest promoter of a corporate house in India ahead of Mukesh Ambani, who has ruled the list for long.
Refusing to be cowed by pressure being brought on him, Oil Minister S Jaipal Reddy on Friday said the decision for mining group Vedanta Resources' $9.6 billion buyout of Cairn India will be taken by the Cabinet without "sacrificing" on national interest.
The opening day of the first Test between India and West Indies belonged to senior Indian off-spinner Ravichandran Ashwin.
Whereas, the group is offering Cairn India's parent Cairn Energy Rs 405 a share, which includes a fee for not competing with it in India, Sri Lanka and Bhutan for the next three years.
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