Retro Tax: Cairn drops lawsuits against Indian govt in US, UK; completing formalities in Paris, Netherlands
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Britain's Cairn Energy Plc has dropped lawsuits against the Indian government and its entities in the US and other places and is in the final stages of withdrawing cases in Paris and the Netherlands to get back about Rs 7,900 crore that were collected from it to enforce a retrospective tax demand. The company has initiated proceedings to withdraw lawsuits it had filed in several jurisdictions to enforce an international arbitration award.