Member Info for raghusn

https://m.economictimes.com/news/economy/policy/cairn-executives-to-meet-finmin-officials-soon/amp_articleshow/85227620.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst&__twitter_impression=true

This chap says an amount of Rupees 7880 cores, equivalent to about £765 millions at todays exchange ratewill be payable to Cairn. That makes it about 1.6 pounds per share.
https://t.co/q1RfrtIwjA?amp=1

This is the top official of the Indian government's finance department and he responds with a convoluted ' Yes' to the query if Cairn and Vodafone agree to drop the legal proceedings and accept a refund without interest. Indicative though cannot be taken as gospel?

https://www.bloombergquint.com/global-economics/vodafone-cairn-in-talks-to-settle-tax-row-india-official-says

My thoughts are that the two sides had agreed on $1.2B deal before the matter moved to the parliament. If that is not the case, it will be too dumb even for the donkeys that run the Indian fiscal administration. For, if Cairn do not accept the 1.2B where does it leave the Indian side? The bill for one, considerably weakens their appeal of the arbitration award. Two, it does nothing about the assets seizure scenario if it resumes. Three, it removes any further space for negotiations by ruling out interest, legal fees etc. And four, it leaves itself open to go back to the parliament to amend the act in sackcloth and ashes when it has to inevitably come to an agreement in the next few months.
We will wait and see how it unfolds in the coming weeks!

Wait for financial media to pick up the news? Still momentum not seen in SP.

market still slow to wake up. Move from 124 to 127 in 20 minutes... would have expected a faster clip.

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Still I think it is huge. Might easily be higher than the present market cap of Cairn.

Markets still not aware it seems. Might be quick bucks for quick movers. Just got in for 3k at 124.4!

New Delhi: The government is scrapping a retroactive tax law that had led to lawsuits by firms like Cairn and Vodafone. The cabinet cleared a bill today to undo the controversial law of 2012. The Centre is ready to refund the amount paid, without interest.
https://www.ndtv.com/india-news/government-to-scrap-controversial-retrospective-tax-law-that-led-to-row-with-vodafone-cairn-energy-2503490#pfrom=home-ndtv_topscroll

Absolutely fantastic news. Now that there is a precedent, Cairn should go for the jugular. Move the French courts for seizure of the Rafale planes being made for India! Any hint of such a move, leave alone any favourable ruling, will send the Indian government into a tizzy and bring it to the negotiating table forthwith.

L3, it is not the 20 million, but the loss of face. Already this is raising lot of noise today in India. If you know the Indian government , it will do anything for its image. My guess is, now it will start to resolve this issue rather than hoping to brazen it out.

Big news in India now. Most media channels carrying this as a headline news. And getting lot of attention in Twitter. Good chance the government will wake up now and resolve the issue to avoid more damage to its image. Surprisingly, most of the comments emanating from India seem to support Cairn and not their government on this!

Big news for Cairn!
https://www.ndtv.com/india-news/cairn-energy-secures-french-court-order-to-seize-20-indian-government-assets-2481825?pfrom=home-ndtv_topscroll

Legal costs are the last thing the politicians running the Indian government will be bothered about. They have a bunch of spin masters in the party and in the mass media who will sell it to their gullible voters as a necessity to protect the country's prestige. Cairn might have a chance to get this sorted out by working through some of the blue eyed boys of the establishment who are well known Indian business men as well as deal makers. The Rafale fighter planes deal between India and Dassault of France will be an instructive case study!
Otherwise, Cairn can resign themselves to a long grind.

Good stuff CNE on Air India!
Now it should try to move the French courts to seize the Rafale planes under production by Dassault. The Rafale deal was sold to the Indian voters as a master piece of defence policy by the Modi government. Any move against the deal will hurt Modi politically and bring the Indian side to its senses quickly.

What a strange RNS today! For the life of me can’t see what a previous year’s results have got to do with a finance arrangement the company is working on. Any light from better heads than mine?

https://www.reuters.com/article/cairn-energy-india-arbitration-idUSKBN2CN1WO

https://dailybusinessgroup.co.uk/2021/04/cairn-energy-offers-to-invest-in-india-to-settle-tax-battle/amp/
Cairn offers to invest in India. Uptick in price due to this news?

"India files appeal in $1.2 billion Cairn arbitration case - sources"

https://uk.investing.com/news/stock-market-news/india-files-appeal-in-12-billion-cairn-arbitration-case--sources-2331725

A transaction of this nature should have been RNSed and the contract value informed to the shareholders?