The government has issued a statement regarding the ongoing tax dispute with Cairn Energy. In which media reports have been dismissed as baseless.
Cairn Energy Tax Controversy
The case of the ongoing Rs 12,000 crore tax dispute with Cairn Energy is not being called to stop. Everyday new changes are coming in it. In the meantime, this news was in the headlines that the government has asked the public sector banks to withdraw money from their foreign currency accounts. The government fears that after the arbitration decision, Cairn may seize the cash of these banks. However, now the Finance Ministry issued a statement on this, calling the whole news as false. The ministry says that the central government is not withdrawing money from public sector banks. During this time, the media was also fiercely lambasted for incorrect reporting from the department.
The Indian government denied such reports and said that such information is “false and baseless”. All these reports written on the basis of source are completely wrong. There is no truth in them. The Finance Ministry also said that it appears that some of the vested parties have planned such misleading reporting, which often relies on unknown sources, and showing a one-sided picture of the factual and legal developments in the case.
See PIB’s latest tweet here
Government of India strongly condemns false reporting on Cairn Legal Dispute
❌All such source-based reports are totally incorrect which are not based on true facts.
✅Government of India is vigorously defending its case in this legal dispute
– PIB India (@PIB_India) May 23, 2021
Government of India issued a statement defending itself strongly in this legal dispute. The government admitted that it had filed an application in the Hague Court on 22 March 2021. But that was about the second case of the case. This action is currently pending. The government is committed to adopting all legal avenues to defend its case in this dispute around the world.
In a statement issued by the government, it was also said that the CEO and representatives of Cairns have approached the Government of India to resolve the matter and discuss the subject. There has been constructive discussion on this and the government is ready for amicable resolution of this dispute within the legal framework of the country.
It is known that energy company Cairn Energy filed a case against the Government of India on the retro tax dispute. It was filed in the year 2015, in which he won. Under this, the Government of India will have to pay 8800 crore rupees to this company. The whole case was worth 1.2 billion dollars (8800 crores rupees). Under which the Government of India was asked to repay 8800 crore rupees with interest at that time. Since the case is pending since then, the government will have to pay 12000 crore rupees with interest.
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