Retrospective tax: Cairn drops suits against Air India, Centre in the US

Reimbursement of INR 7,900 crore is expected from the corporation. The government seized Cairn's shares, dividends, and tax refunds to pay its tax demand.

Retrospective tax: Cairn drops suits against Air India, Centre in the US

As part of its settlement with the Indian government in the retrospective tax dispute, UK-based Cairn Energy, rebranded Capricorn Energy last week, has discontinued arbitration enforcement cases in US courts.

According to court documents, Cairn Energy filed a "notice of voluntary dismissal" of their petition against India in the District of Columbia District Court on Wednesday. It filed a similar motion in the New York Southern District Court to have its petition against Air India dismissed on the same day. According to the PacerMonitor website, which follows federal court cases in the United States, both lawsuits have been "terminated."