Centre aims to settle Cairn Energy retrospective tax case with $1 billion refund: Report
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India expects to refund $1 billion to UK-based Cairn Energy after it moved to scrap a retrospective tax law that unleashed bitter fights with prominent foreign investors, Financial Times reported. The lower house of parliament on Friday approved a draft law introduced the previous day, cancelling a 2012 policy that enabled New Delhi to tax some foreign investments retrospectively.