Britain’s Cairn Energy has dropped all lawsuits against the Indian government and its entities in courts from the U.S. to France and to Singapore, to now be entitled for about ₹7,900 crore in tax refunds that were collected to enforce a retrospective tax demand.
As part of the settlement reached with the government in the seven-year-old dispute over the levy of back taxes, the company — which is now known as Capricorn Energy plc — has withdrawn all cases that were brought to collect the tax refund ordered by an international arbitration tribunal after rescinding retrospective raising of demand, according to an advertisement it issued.
