Cairn Energy Plc (‘Cairn’) announces correspondence from Indian IT Department is in respect of retrospective amendments introduced in 2012; Cairn states that it has re-confirmed with its advisors that throughout history of Indian operations, it has been fully compliant with tax legislation in force each year; Cairn assures that it intends to take necessary steps to protect the Company’s interests and to defend its position; While matter is being discussed, Cairn restricted by India tax authorities from selling shares in Cairn India (valued at US$1.0 billion as at 31 December 2013); Statement follows Cairn’s earlier announcement on January 24, 2014 to keep market updated regarding request from India tax authorities for information regarding its income tax assessments for the year ended March 31, 2007
Posted on: Sat, 01 Feb 2014 06:12:47 +0000
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