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Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc - a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn Energy had moved courts in nine countries to enforce its $1.4 billion arbitral award against India, which the company won after a dispute with the country's revenue authority over a retroactively applied capital gains tax. Of these, the December 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands has been recognised and confirmed by courts in the US, the UK, Netherlands, Canada and France, three people with knowledge of the matter said.
If the waxy crude oil from Cairn's Mangala field in Rajasthan's Barmer area could get the company such high valuations, the prospects of other companies producing higher-grade crude oil or natural gas certainly brighten.
Manchester City reached the semi-finals of the Champions League for the first time after a superb curling shot from Kevin de Bruyne gave them a 1-0 second-leg win over Paris St Germain that sealed a 3-2 aggregate victory on Tuesday.
The PM said the government knew that Sri Lankan nationals who joined the Islamic State had returned, but they could not be arrested as joining a foreign terrorist organisation is not against the law in the island nation.
The family of Viswanatha Gurukkal, who was attacked by a group of youngsters, blames some political parties for taking up anti-Brahminism as their poll plank. Shobha Warrier/Rediff.com reports.
The company is looking to invest more than $3 bn over the next three years.
Manchester City were never out of the title race and the Premier League champions did not need to change their style despite a frustrating to start the season, manager Manuel Pellegrini has said.
State-run Oil and Natural Gas Corporation is expecting a resolution to the contentious royalty payment issue with Cairn India --for the Barmer oil fields--before it goes for a follow-on public offer (FPO) early next year.
In view of the flood situation in Andhra Pradesh and Karnataka, the Railways on Saturday decided to cancel a few trains originating from Delhi and divert the Ernakulam-bound Mangala Express from its scheduled route.
Mangalore Refinery and Petrochemicals Ltd (MRPL) will double offtake of crude oil from Cairn India's Rajasthan fields to 0.4 million tons this fiscal.
Indian Oil Corporation has started buying crude oil from Cairn India's Rajasthan oil fields, which have now crossed the 1,00,000 barrels per day mark in production.
France coach Didier Deschamps confirmed his final Euro 2016 squad on Tuesday, including defenders Adil Rami and Samuel Umtiti in place of the injured Raphael Varane and Jeremy Mathieu. Liverpool centre back Mamadou Sakho was not included even though his 30-day provisional suspension for failing a drugs test expired last weekend. Hosts France geared up for the finals with a 3-2 victory over Cameroon in Nantes on Monday. They take on Scotland in Metz on Saturday.
Prime Minister Dr Manmohan Singh on Saturday said that a needless controversy had been created over the Pokhran II nuclear tests that took place in May 1998.
As Cairn India began to pump crude oil on Monday from its Mangala oilfield here.
The recruitment drive is looking to fill more than 300 key positions for the Rajasthan project, a company statement said.
Manchester City's England goalkeeper Joe Hart will be rested for this weekend's FA Cup third round tie against Norwich City, manager Manuel Pellegrini said on Friday. Hart was also left on the bench for City's League Cup semi-final, first leg at Everton on Wednesday and Argentine Willy Caballero will continue in his place on Saturday. "Willy will play both cups. For Joe it's good to work one complete week because we are playing so many games," Pellegrini said at his news
Reliance Industries and Essar Oil are keen on buying crude oil from Cairn India's Rajasthan fields even as the petroleum ministry struggles to find takers of the nation's most prolific oil discovery among public sector firms.
Cairn India, a unit of UK-based Carin Energy, will have the potential to account for 20 per cent of India's oil production in the next decade once oil starts flowing from its three fields in Rajasthan.
The mishap occurred when the boat carrying about 50 pilgrims from Mangala Bhavani temple in Balia district of neighbouring Uttar Pradesh capsized midstream in Buxar town area of Bihar, official sources said.
During the 30-minute meeting between Samaraweera and Rice, the peace process in Sri Lanka and the current security situation came up for discussion.
'You need to be very passionate towards life, not because you are a film-maker, but because you are a human being.' 'If you can do that, then I think it reflects in the films that you make.'
Manchester City will be without David Silva, Raheem Sterling and captain Vincent Kompany for this weekend's visit to Chelsea, manager Manuel Pellegrini told reporters on Friday.
The Nizamuddin-Thiruvananthapuram Rajdhani Express and Nizamuddin-Ernakulam Mangala Express, which left Nizamuddin on June 15, were diverted to run via Kalyan, Pune, Wadi, Guntakkal and Dharmavaram.
Government has approved Cairn Energy's one-billion dollar development plans for four of the 18 oil discoveries made by the British firm in its Rajasthan block.
India and Sri Lanka consider an open sky policy within the framework of the air traffic agreement of the SAARC nations.
The visit and the agenda is mainly to re-emphasise the traditional connect between India and Sri Lanka, particularly in the context of Buddhism, which is a shared heritage.
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.
US Secretary of State John Kerry on Saturday warned Sri Lanka that "true reconciliation" with Tamils will take time, even as he praised the "openness" of the new government in efforts to boost democracy, human rights and reaching out to the minority community.
Japan's special envoy Yasushi Akashi is likely to meet LTTE leaders to kickstart the stalled peace process.
UK-based Cairn Energy raised its estimates of oil at its three key Rajasthan fields, and said total potential production was now over 1,50,000 barrels per day.
Two children were crushed to death at Worli in central Mumbai late Sunday night when a speeding cab ploughed into a pedestrian path on which they were asleep with other family members, police said.
Cairn Energy of UK has secured a $1 billion banking facility to fund its Rajasthan oil field development plan.
UK-based Cairn Energy will invest $1.33 billion in its Rajasthan oilfields to produce 1,25,000 barrels per day from mid-2007, an official said on Friday.
Cairn Energy of UK on Monday said its oilfield in Rajasthan contains more than 2.5 billion barrels of oil reserves.
Eleven per cent increase in post-monsoon rain and new farm technologies are likely to more than make up for drought-hit kharif crop and result in a bumper grain production of about 220 million tonnes in 2004-05
Cairn Energy of UK has said its Rajasthan oilfield can produce up to 150,000 barrels per day by 2007-end, 50 per cent more than the previously estimated 100,000 barrels per day.
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